Former Apple employee stole more than 17 million USD

by nativetechdoctor
2 minutes read

Dhirendra Prasad during 10 years working at Apple has committed many acts of fraud and theft, causing property loss of 17 million USD and being forced to pay over 19 million USD in compensation.

Dhirendra Prasad – 55 – received a 3-year prison sentence and was ordered to pay $ 19 million to Apple after stealing $ 17 million from the company. According to the court, Prasad was found guilty of “conspiracy to defraud” Apple and tax-related crimes.

global supply chain Prasad worked as a purchaser of parts and services for Apple from 2008 to 2018. In a written plea agreement, the former employee admitted to stealing money from the company through “kickbacks” ” (thank you tip), overstated invoices, stolen parts, and charged for parts that weren’t actually delivered. The total value of appropriation amounted to 17 million USD

This person colluded with leaders of 2 other companies (both investigated and sentenced separately). Prasad also did not pay taxes on the money stolen from the company. According to the US Department of Justice, Prasad’s position at Apple allows him to purchase components to repair devices that are under warranty. At the same time, Prasad also has the right to “make decisions that are deemed beneficial to Apple “.

The Ministry of Justice assessed: “Prasad betrayed trust and abused his power to enrich himself at the expense of the hiring unit. In addition, the defendant used his inside information. about the company’s fraud detection techniques to develop a crime plan to avoid detection”.

Total compensation is more than 19.27 million USD. In addition, Prasad also lost ownership of the $ 5,491 million property (which has been frozen by the government) and converted $ 8.1 million worth of assets into cash

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