US charges former Apple buyer with defrauding more than US$10 million from company

US prosecutors have charged a former Apple Inc employee with defrauding the iPhone maker out of more than US$10 million in a series of schemes.

Prosecutors said that as an Apple buyer, Prasad negotiated with vendors and placed orders, with Apple making payments based on invoice amounts he entered into its purchasing system. Prosecutors said Prasad also evaded taxes on and laundered proceeds from his schemes. Apple fired him in December 2018 after a decade of employment, court papers show.

Two owners of vendors that did business with Apple and who allegedly conspired with Prasad on similar fraud schemes pleaded guilty to related charges in December, court records show.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

US charges former Apple buyer with defrauding more than $10 million from companyU.S. prosecutors have charged a former Apple Inc employee with defrauding the iPhone maker out of more than $10 million in a series of schemes.Dhirendra Prasad faces five criminal counts after exploiting his 'position of trust' as a buyer in Apple's global service supply chain to defraud the company, acco
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »