//

Report: Apple lost $10 million to long-time worker who took kickbacks, stole parts, diverted cash, feds allege

1 min read

A former Apple Inc. employee has been accused of cheating the iPhone maker out of more than $10 million in a series of schemes, according to US prosecutors. According to records with the federal court in San Jose, California, Dhirendra Prasad faces five criminal counts for defrauding Apple by abusing his “position of trust” as a buyer in Apple’s global service supply chain.

Prosecutors claimed Prasad spoke with vendors and placed orders as an Apple buyer, with Apple paying him based on invoice amounts he entered into the company’s purchasing system. Prasad is accused of defrauding Apple by accepting kickbacks, stealing parts through fraudulent repair orders, and making Apple pay for items and services it never received.

Prasad allegedly dodged taxes and laundered earnings from his scams, according to prosecutors. According to court documents, Apple fired him in December 2018 after a decade of service.

Advertisement

It’s unclear whether Prasad has recruited legal counsel. On Sunday, Prasad was not immediately available for comment. His phone number has been removed from the directory. According to court records, two owners of Apple vendors who allegedly cooperated with Prasad on similar fraud schemes pleaded guilty to related counts in December.

Prasad is accused of conspiring to commit wire and mail fraud, money laundering, and defrauding the US government, as well as tax evasion. The date of his arraignment has been set for March 24. Prosecutors also want Prasad to give up his real estate and other assets worth millions of dollars.

Leave a Reply