Former Apple Employee Receives Prison Time and Fine...

Dhirendra Prasad, a former Apple employee, has been sentenced to three years in prison and ordered to pay restitution of over $19 million for stealing around $17 million from the company through fraudulent schemes involving mail and wire fraud. Prasad, who worked as a buyer in Apple's global service supply chain from 2008 to 2018, admitted to stealing money from his employer through kickbacks, inflating invoices, stealing parts, and fraudulent charges for undelivered goods. He also conspired with the owners of two vendor companies to carry out these activities and evade taxes on the proceeds. Prasad used his insider knowledge of Apple's fraud detection techniques to conceal his actions. He pleaded guilty to one count of conspiracy to commit mail fraud and wire fraud and one count of conspiracy to defraud the United States. In addition to his prison sentence, Prasad must pay back $19,270,683 in restitution, forfeit over $5.4 million worth of assets that the government has already seized, and pay an additional $8.1 million in cash.