Apple Employee Is One Bad Apple Steals 17 Million Dollars From Tech Company

[vc_row][vc_column][vc_column_text]A former Apple employee, Dhirendra Prasad, pleaded guilty to conspiracy to commit fraud after admitting that he defrauded the tech giant of more than 17 million dollars.

Prasad was a buyer in Apple’s Global Service supply chain and was responsible for  purchasing parts and services from Apple Vendors. Beginning in 2011, he started taking kickbacks, inflating invoices, stealing parts, and causing Apple to pay for items and services never received.

Prasad worked with two Apple vendors who have since admitted their guilt. In one instance Prasad shipped motherboards from Apple’s inventory to one of the vendors so the vendor could harvest the components and sell them back to Apple. In other instances Prasad sent components from an Apple warehouse to a different vendor who repackaged them and sold them back to Apple.

Prasad engaged in tax fraud by funneling illicit payments from one vendor directly to his creditors. He also created a shell company that issued sham invoices to one of the vendors in order to conceal illicit payments and to allow the vendor to claim hundreds of thousands of dollars in false tax deductions. This caused the IRS a loss of more than 1.8 million dollars.

Prasad has been ordered to forfeit five million dollars in property and cash, faces up to 20 years in prison and restitution.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][us_image image=”2698″][/vc_column][/vc_row]