Former Apple Employee Must Repay $19 Million After Defrauding the Company

A former Apple employee has been sentenced to three years in prison and must pay back over $19 million in restitution for stealing around $17 million from the tech giant through mail and wire fraud schemes. From a report: Dhirendra Prasad, 55, was originally charged in March 2022 and later pleaded guilty to conspiring to defraud Apple and related tax crimes back in November last year. Prasad was employed at the company between 2008 and 2018, mostly working as a buyer in Apple's global service supply chain, purchasing parts and services from vendors. In his written plea agreement, Prasad admitted he started siphoning money from his employer around 2011 by accepting kickbacks, stealing parts, inflating invoices, and fraudulently charging Apple for goods that were never delivered. He also admitted to evading tax on the proceeds of his schemes and conspiring on these activities with the owners of two vendor companies, who have been charged in separate cases.

Read more of this story at Slashdot.