Dhirendra Prasad, 55, was sentenced to three years in prison and ordered to pay $19 million in restitution to Apple after stealing $17 million from the company. Prasad was found guilty of “conspiracy to defraud” Apple and tax-related crimes, according to the court.
Prasad worked as a parts and services buyer for Apple’s global supply chain from 2008 to 2018. In a written plea agreement, the former employee admitted to stealing company funds through kickbacks, falsifying invoices, stealing parts, and billing for parts that were not actually delivered, totaling $17 million.
Total amount of money embezzled from Apple is up to more than 17 million USD
He conspired with executives from two other companies (both of which were investigated and sentenced separately). He also failed to pay taxes on the money he stole from the company. According to the Justice Department , Prasad’s position at Apple allowed him to purchase parts for repairs on devices that were under warranty. He also had the authority to “make decisions that were deemed beneficial to Apple.”
"Prasad betrayed trust and abused his authority to enrich himself at the expense of his employer. In addition, the defendant used his inside information about the company's fraud detection techniques to develop a criminal scheme to avoid detection," the Justice Department said.
The total compensation is more than 19.27 million USD. In addition, Prasad also lost ownership of assets worth 5.491 million USD (which were frozen by the government) and converted assets worth 8.1 million USD into cash.
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