Former Apple Employee Jailed For $17 Million Theft
A former Apple employee of a decade has been told to give the company more than $19 million and send to prison for three years after they defrauded the company of around $17 million.
Dhirendra Prasad was sentenced earlier this week with the United States Attorney’s Office for the Northern District of California confirming the news via a press release that detailed what had happened.
Prasad was sent to prison after he pled guilty to two of the four counts against him with the remaining two being dropped at the time of sentencing.
The criminal conduct in this case centered around Prasad’s employment at Apple from December 2008 through December 2018. For most of that time, he was a “buyer” in Apple’s Global Service Supply Chain. It was Prasad’s job as an Apple buyer to facilitate the process through which Apple bought parts to perform warranty repairs on older devices. Prasad exploited his position and conspired with two separate Apple vendors to defraud Apple by taking kickbacks, stealing parts, inflating invoices, and causing Apple to pay for items and services it never received – resulting in a loss to Apple of more than $17,000,000. In addition to engaging in two separate criminal conspiracies with Apple vendors, Prasad also acknowledged that he evaded tax on the proceeds of his schemes.
Prasad has already had to forget almost $5.5 million worth of assets and must pay $17,398,104 to Apple and $1,872,579 to the IRS.
Whether or not Apple or the IRS will ever receive that money remains to be seen, of course.