It’s about 17 million US dollars: An ex-employee is said to have cheated Apple by this amount. Now he has to go to jail for that.
A former Apple employee has been jailed for three years for fraud worth millions. In addition, he is to make around 33 million dollars in compensation or repayments and additional payments, as determined by a US federal court. Dhirendra Prasad pleaded guilty last fall, according to CNBC.
According to the verdict, Prasad worked for Apple from 2008 to 2018, and he and his two accomplices, both owners of Apple suppliers, said they started the scam in 2011. Accordingly, in his function as a buyer in Apple’s global supply chain department, the now-convicted person calculated parts in purchasing several times. Or he ordered payments for parts that Apple already owned.
According to CNBC, this scam ran for a total of about eight years, with Prasad and his comrades-in-arms defrauding Apple of around $17 million. Prasad also created “sham accounts” that enabled one of his co-conspirators, Don Baker, to make more than $1.8 million worth of unjustified tax deductions.
Prasad abused Apple’s trust
“Prasad was given ample discretion to make autonomous decisions in favor of his employer,” federal prosecutors and Internal Revenue Service (IRS) investigators said in a statement. “Prasad betrayed that trust and abused his power to enrich himself at the expense of his employer.”
In addition to his prison sentence, Prasad will lose $5.5 million in assets, pay an $8.1 million fine and pay $17.4 million in compensation to Apple and $1.9 million to the IRS.