Tech

Ex-employee accused of embezzling $10 million from Apple

In short: A former Apple employee who spent a decade as a customer in the company’s global services supply chain division has been charged with embezzling more than $10 million from Cupertino through kickbacks, equipment theft and money laundering.

A federal criminal case alleges that Dhirendra Prasad, 52, abused his position to defraud Apple through several schemes, including stealing parts using false repair orders and forcing the tech giant to pay for goods and services he never received. Prosecutors estimate Apple’s losses from Prasad’s alleged actions over his ten years in office (December 2008 to December 2018) at about $10 million.

By court order, the federal government confiscated Prasad’s five properties and financial accounts worth about $5 million that are linked to alleged criminal activity. The US Attorney’s Office in San Jose said the government would seek to preserve the assets as proceeds of crime.

Prosecutors said two supplier owners who did business with Apple admitted to conspiring with Prasad to commit fraud and money laundering.

This Thursday, Prasad is due to appear in U.S. District Court in San Jose, where he will be charged with conspiracy to commit fraud, money laundering and tax evasion. Each charge carries a penalty of five to twenty years in prison, although ABC notes that most people convicted of fraud receive less than the maximum sentence.

News broke last month of a Chinese citizen sentenced to 26 months in prison after he tricked Apple into giving him an iPhone worth more than $1 million by sending counterfeits to Cupertino’s warranty replacement program. However, unlike this last case, this person has never worked for Apple.

Photo in the center Matthew Ansley


Source link

Leave a Reply

Your email address will not be published.

Back to top button