Former Apple employee admits to defrauding the company out of $17 million

K. Holt@krisholtNovember 2, 2022 11:42 AMIn this report: apple, fraud, news, equipment, criminal offenseNurPhoto by using Getty Pictures

A former Apple staff has pled guilty to defrauding the firm out of more than $17 million. Dhirendra Prasad, who expended most of his decade at Apple doing work as a consumer in the World Services Supply Chain department, admitted to “using kickbacks, inflating invoices, thieving pieces and triggering Apple to pay for things and solutions never ever been given,” in accordance to the US Attorney’s Business office for the Northern District of California. Prasad started out these strategies in 2011 and ongoing them right until 2018. 

In 1 scam, Prasad shipped motherboards from Apple’s inventory to CTrends, a company run by a co-conspirator, Don M. Baker (who previously admitted to using portion in the fraudulent schemes). Baker harvested parts from the motherboards, then Prasad structured purchase orders for those people elements. Just after Baker transported the components back again to Apple, CTrends submitted invoices for which Prasad organized payment. In the conclude, the pair acquired Apple to shell out for its have elements and they split the proceeds of the rip-off.

In addition to fleecing Apple, Prasad confessed to participating in tax fraud. He directed payments from Robert Gary Hansen (yet another co-conspirator who has admitted to having component in the techniques) straight to his creditors. In addition, Prasad arranged for a shell corporation to send sham invoices to CTrends with the intention of masking up illicit payments Baker manufactured to him. This enabled Baker “to assert hundreds of 1000’s of dollars of unjustified tax deductions,” the US Attorney’s Office said. All informed, prosecutors claim that the ripoffs resulted in the IRS shedding in excess of $1.8 million.

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Prasad will be sentenced in March. He pled responsible to a single count of conspiracy to commit mail fraud and wire fraud, which carries a most prison sentence of 20 many years. Prasad also pled responsible to just one depend of conspiracy to defraud the United States, which has a utmost sentence of 5 years’ imprisonment. Also, Prasad agreed to forfeit all-around $5 million worthy of of belongings he accrued as a final result of his felony actions, together with real estate qualities.

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