Apple loses $10 million in alleged fraud

Apple loses $10 million in alleged fraud
Apple has allegedly been defrauded of $10 million by a former employee of the tech giant (via AppleInsider). Dhirendra Prasad, an Apple employee from 2008 to 2018, worked as a supply chain buyer at Apple's "Global Service Supply Chain." According to a federal press release reported by Silicon Valley, Prasad used his position at Apple to obtain kickbacks, steal parts, and force Apple to pay for items and services that were never delivered.

Prosecutors and the Internal Revenue Service stated that Dhirendra Prasad "has exploited his position by engaging in multiple different schemes to defraud Apple." They also said that Prasad was charged with five crimes, including defrauding Apple, money laundering, and tax evasion. Each of these crimes has a maximum sentence of five to 20 years in prison. However, the majority of those convicted of fraud in federal court receive less than the maximum sentence.

The press release also reports that the federal government took $5 million in money and property from Prasad thanks to a court order, and that the government wants to keep and use the acquired assets as proceeds of crime.

But Dhirendra Prasad wasn't acting alone in his attempts to defraud Apple. According to the authorities, there were also two other California men who conspired with Prasad to launder money and commit fraud. Both of these men were the owners of firms that sold to Apple. Both men have admitted their involvement in the schemes against Apple and were charged in separate federal cases.

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