Former Apple Employee Charged For Defrauding Over $10 Million: Here's Why

A former Apple employee has been charged by US prosecutors with defrauding the company out of over $10 million in a variety of schemes.

Reuters

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Reported first by Reuters, Indian-origin Dhirendra Prasad is held on five criminal counts based on filings with the federal court in San Jose, California, after he exploited his position in the company as a buyer in Apple¡¯s global service supply chain in order to defraud the Cupertino giant.

Prosecutors highlight that with his position as an Apple buyer, Prasad negotiated with vendors and placed orders, while Apple paid based on the invoice amounts entered by him into the company¡¯s purchasing system.

Prasad reportedly took kickbacks, stole parts using false repair orders while asking Apple to pay for items and services that were never rendered. According to the prosecutors, Prasad also evaded taxes and laundered proceeds from his schemes.

Based on the presented court papers, Prasad was fired by Apple in December of 2018, after a decade of employment.

Reuters

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Two owners of vendors who were involved in business with Apple as well as involved in defrauding the tech company have pleaded guilty to the charges in December.

Prasad currently faces charges including conspiracy to commit wire and mail fraud, commit money laundering as well as defrauding the US, along with tax evasion.

He is scheduled to appear for his arraignment on March 24. He is also expected to forfeit millions of dollars of real property and assets, according to demands by the prosecutors.

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