A former Apple employee has been jailed for three years for fraud worth millions. In addition, he should make around 33 million dollars in compensation or repayments and additional payments, as determined by a US federal court. Dhirendra Prasad pleaded guilty last fall, according to CNBC.
Prasad worked the judgement According to Apple from 2008 to 2018, he and his two accomplices, both owners of Apple suppliers, started the scam in 2011, according to their own statements. Accordingly, in his function as a buyer in Apple’s global supply chain department, the now convicted person calculated parts in purchasing several times. Or he ordered payments for parts that Apple already owned.
Sea CNBC This scam ran for a total of about eight years, so Prasad and his comrades-in-arms defrauded Apple of around $17 million. Prasad also created “sham accounts” that enabled one of his co-conspirators, Don Baker, to make more than $1.8 million worth of unjustified tax deductions.
Prasad abused Apple’s trust
“Prasad was given ample discretion to make autonomous decisions in favor of his employer,” federal prosecutors and Internal Revenue Service (IRS) investigators said in a statement. “Prasad betrayed that trust and abused his power to enrich himself at the expense of his employer.”
In addition to his prison sentence, Prasad will lose $5.5 million in assets, pay an $8.1 million fine and pay $17.4 million in compensation to Apple and $1.9 million to the IRS.
(tkn)