Former Apple employee steals $17 million
A former Apple employee has defrauded the company of more than $17 million. He now faces up to 25 years in prison.
A former Apple employee recently admitted to defrauding the company of more than $17 million. The informed about this Public prosecutor of the US state of California.
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Employee has been cheating on Apple for seven years
Between 2008 and 2018, 52-year-old Dhirendra Prasad from California worked at Apple. During this time he worked as a buyer in the Global Service Supply Chain. At the time, Prasad’s responsibilities included purchasing parts and services from suppliers.
As the man now admitted in federal court, he began defrauding Apple back in 2011 by accepting kickbacks and inflating bills. He also stole parts and made the company pay for items and services never received.
Ex-employee stole parts and sold them back to Apple
For example, in 2013, Prasad shipped motherboards from Apple’s inventory to an accomplice’s company. Some components were removed from the parts there. Prasad then arranged for the motherboards to be sold back to the tech giant.
Ultimately, the ex-employee got the company to buy their own faulty parts. He shared the proceeds with his accomplice.
Prasad also admitted that he continued his activities into 2018, causing the company to lose more than $17 million.
Prasad charged with tax evasion
Not only Apple was a victim of the machinations of the former employee. In order to share the loot and save on taxes, the 52-year-old also issued bogus invoices to his accomplice’s company.
In this way, Prasad also defrauded the United States of around 1.8 million US dollars in tax revenue. The United States initiated civil confiscation proceedings.
Apple employee pleads guilty
Prasad, 52, pleaded guilty to one count of conspiracy to commit mail and telecommunications fraud. This can be punished with a prison sentence of up to 20 years. He also confessed to tax fraud, which could cost him another five years in prison.
US District Judge Beth L. Freeman scheduled Prasad’s sentencing hearing for mid-March 2023. The former Apple employee remains in custody pending his hearing.
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