Former Employee Accused of Defrauding Apple Out of $10 Million

"A former Apple employee has been charged with defrauding the tech giant out of more than $10 million," reports NBC News, "by taking kickbacks, stealing equipment and laundering money, federal prosecutors said."Dhirendra Prasad, 52, worked for 10 years as a buyer in Apple's Global Service Supply Chain department. A federal criminal case unsealed Friday alleges that he exploited his position to defraud the company in several schemes, including stealing parts and causing the company to pay for items and services it never received. A court has allowed the federal government to seize five real estate properties and financial accounts worth about $5 million from Prasad, and the government is seeking to keep those assets as proceeds of crime, the U.S. Attorney's office in San Jose said in a news release... Two owners of vendor companies that did business with Apple have admitted to conspiring with Prasad to commit fraud and launder money, prosecutors said.

Read more of this story at Slashdot.