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

employee has pled guilty to defrauding the company out of over $17 million. Dhirendra Prasad, who spent most of his decade at Apple working as a buyer in the Global Service Supply Chain department, admitted to"taking kickbacks, inflating invoices, stealing parts and causing Apple to pay for items and services never received,”. Prasad started these schemes in 2011 and continued them until 2018.

In one scam, Prasad shipped motherboards from Apple's inventory to CTrends, a company run by a co-conspirator, Don M. Baker . Baker harvested components from the motherboards, then Prasad organized purchase orders for those parts. After Baker shipped the components back to Apple, CTrends filed invoices for which Prasad arranged payment. In the end, the pair got Apple to pay for its own components and they split the proceeds of the scam.

In addition to fleecing Apple, Prasad confessed to engaging in tax fraud. He directed payments from Robert Gary Hansen straight to his creditors. In addition, Prasad arranged for a shell company to send sham invoices to CTrends with the aim of covering up illicit payments Baker made to him. This enabled Baker"to claim hundreds of thousands of dollars of unjustified tax deductions," the US Attorney's Office said.

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Former Apple employee defrauds company of $17 million, IRS of $1.8 millionA former employee of Apple worked with two other business owners to defraud the computer giant out of more than $17 million. More details on their scheme here: Justice is never blind!
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