Apple Ex-Employee Charged for Defrauding the Company of $10 Million


A former Apple worker has been charged with defrauding the tech large out of greater than $10 million (roughly Rs. 75 crore) by taking kickbacks, stealing gear and laundering cash, federal prosecutors stated.

Dhirendra Prasad, 52, labored for 10 years as a purchaser in Apple’s International Service Provide Chain division. A federal legal case unsealed Friday alleges that he exploited his place to defraud the firm in a number of schemes, together with stealing components and inflicting the firm to pay for gadgets and companies it by no means obtained.

A court docket has allowed the federal authorities to grab 5 actual property properties and monetary accounts price about $5 million (roughly Rs. 40 crore) from Prasad, and the authorities is looking for to maintain these belongings as proceeds of crime, the US Legal professional’s workplace in San Jose stated in a information launch.

Prasad is scheduled to seem in court docket subsequent Thursday to reply to costs of partaking in a conspiracy to commit fraud, cash laundering, and tax evasion. It is unclear whether or not he has retained a lawyer. A telephone quantity listed for him was disconnected.

Two homeowners of vendor corporations that did enterprise with Apple have admitted to conspiring with Prasad to commit fraud and launder cash, prosecutors stated.

Prasad is scheduled to make a primary look in US District Court docket in San Jose subsequent week on Thursday. Fraud, cash laundering, and tax evasion every carry most sentences of 5 to twenty years, however sentencing pointers and judges’ discretion imply most individuals convicted of fraud in federal court docket obtain lower than the most sentence.




Source link

Leave a Reply

Your email address will not be published.