Former Apple employee stole money from the company for years: in the end he embezzled more than $ 17 million
A Northern California prosecutor's office said Nov. 1 that a former Apple employee pleaded guilty to mail and wire fraud related to schemes that resulted in more than $17 million being stolen from the tech giant. CNET.
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Dhirendra Prasad, 52, pleaded guilty on Nov. 1 in federal court to charges of conspiracy to defraud and conspiracy to defraud the US, US Attorney's Office said in a statement.
Prasad worked at Apple from December 2008 to December 2018 in the company's global services supply chain division. He was responsible for buying parts and services for Apple from various suppliers.
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In a written guilty plea, Prasad said he started defrauding Apple in 2011 by stealing, getting kickbacks and overbilling. The U.S. Attorney's Office said two accomplices, Robert Gary Hansen and Don M. Baker, were charged with involvement in Prasad's schemes and admitted to being involved.
In one instance, Prasad said that in 2013 he shipped Apple motherboards to Baker's company, CTrends. Baker assembled the motherboard components and then shipped them back to Apple, for which Prasad invoiced Apple for the purchase. After Apple paid the fraudulent bills, the couple split the proceeds.
Prasad also admitted to being involved in tax fraud by directing illegal payments from Hansen to Prasad's creditors. He set up a fake billing company called CTrends to hide Baker's illegal payments to Prasad, allowing Baker to claim hundreds of thousands of dollars in unfounded tax deductions and resulting in more than $1,8 million in IRS losses.
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Prasad faces up to 20 years in prison for wire and mail fraud, and five years for fraud in the US. A sentencing hearing has been scheduled for March 14, 2023.
In addition, Prasad agreed to have $5 million worth of assets confiscated from him, which he acquired with the proceeds of his fraud, US Attorney's Office said.
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