Former Apple employee must return $19 million for deceiving the company
Former Apple employee Dhiraj Prasad has been sentenced to three years in prison and ordered to pay the company more than $19 million in restitution for defrauding the tech giant. The 55-year-old Prasad had worked at the company from 2008 to 2018, dealing with Apple's global supply chain of services, purchasing components and services from suppliers. In a plea agreement, he admitted that he began embezzling money from his employer around 2011 through kickbacks, theft of parts, overbilling, and charging Apple for goods that were never delivered. The convict also evaded taxes on income and conspired with owners of two supplier companies who were also charged.
“Prasad abused his position at Apple, which provided him significant autonomy to act in the company's interest, by enriching himself at his employer’s expense and receiving hundreds of thousands of dollars from Apple in salary and bonuses," said the US Justice Department. Prasad knew how Apple looked for fraudsters and successfully concealed his fraudulent activities.
Prasad pleaded guilty only to conspiracy. Assets worth more than $5.4 million have already been seized from him.