Former Apple employee Dhirendra Prasad jailed for stealing $17 M

Washington, DC: A former Apple employee of Indian origin has been sentenced to three years in prison and ordered to pay more than $19 million for conspiring to defraud the tech giant and for related tax crimes.  

55-year-old Dhirendra Prasad stole about $17 million from Apple as he exploited his position and conspired with two separate Apple vendors to defraud the tech giant. He did so by taking kickbacks, stealing parts, inflating invoices, and causing Apple to pay for items and services it never received – resulting in a loss to Apple of more than $17 M. 

Moreover, Prasad used his insider information regarding the company’s fraud-detection techniques to design his criminal schemes to avoid detection. In addition to the three-year prison sentence, a federal judge ordered Prasad to forfeit over $5,491,713 worth of assets already seized by the government, as per the report. 

He has also been ordered to pay restitution of $17,398,104 to Apple and $1,872,579 to the Internal Revenue Service, the statement added. 

Image courtesy of thesatimes

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