Ex-Apple Employee Defrauds Tech Giant Out Of $10 Million
A former Apple employee, who has allegedly made out like a bandit, is being charged with defrauding the tech giant out of millions of dollars through a series of schemes that included theft and money laundering, according to prosecutors. The alleged crook worked in the company’s supply chain for 10 years but is now facing a litany of charges that could put him behind bars for many more.
The iPhone maker had employed Dhirendra Prasad for 10-years as a buyer in the company’s global supply chain department. During his employment, Prasad exploited his position at the company for financial gain, according to unsealed court documents. Prasad allegedly siphoned $10 million from the tech giant through a series of schemes that involved stealing parts and causing the tech giant to pay for items and services that were never received.
Federal prosecutors have indicted Prasad on five charges, which include conspiracy to commit wire and mail fraud and two counts of conspiracy to launder fraud proceeds, according to court documents unsealed on Friday. Even worse —Prasad is also accused of tax evasion and conspiracy to defraud the US government.
If Lil Pump has taught taxpayers anything, it's that the IRS will always come after its fair share. And now, the federal government has seized five real estate properties and about $5 million in the alleged thief’s financial accounts.
"Prasad used his position of trust at Apple to engage in multiple different schemes to defraud Apple, including taking kickbacks, stealing parts using false repair orders, and causing Apple to pay for items and services it never received," prosecutors said in the court filing that estimated the losses at more than $10 million.
The crimes also include two vendors who prosecutors have accused of conspiring with Prasad to commit fraud and money laundering in separate federal cases. However, these vendors have already come forward to admit their involvement with Prasad.
Each of the charges the purported culprit is facing carries a stiff penalty. He could be facing years behind bars. Prasad will make his initial court appearance on Thursday.
Apple may have suffered a slight setback from the theft, but they’re still the largest company in the world and the world’s first $3 trillion company. Currently, the tech giant has a valuation right below the $3 trillion mark.
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