Ex-employee rips off Apple for 7 years: fraudster steals $17 million from company

In the US, a court has sentenced Dhirendra Prasad, a former Apple employee who stole from the company for 7 years.

Details

Prasad worked for the company from 2008 to 2018 and was associated with Apple's global services supply chain, buying parts and services from suppliers. Around 2011, he started stealing money from his employer: stealing parts, taking bribes from suppliers, inflating invoices and charging Apple for goods that were never delivered. He was in cahoots with two suppliers who were also charged.

Prasad used his knowledge of Apple's fraud detection techniques to avoid getting caught. He did manage to operate covertly for years, but as a result he was exposed. As it turned out, the man managed to steal a total of $17 million.

The fraudster was sentenced to 3 years in prison. In addition he should compensate for damages: $17.4 mln stolen from Apple and $1.9 mln for unpaid taxes from his schemes. In addition, the US government has already seized Prasad's assets to the tune of $5.5 million, and he has been ordered to pay an additional $8.1 million in forfeiture.

Source: Justice.gov