Apple worker who defrauded business of millions sentenced to 3 yrs in prison

Apple worker who defrauded business of millions sentenced to 3 yrs in prison


CFOTO | Potential Publishing | Getty Illustrations or photos

A former Apple employee who swindled the business out of extra than $17 million with a plan that double-billed for parts was sentenced to 3 decades in federal prison and pay back approximately $33 million, prosecutors mentioned.

Dhirendra Prasad pleaded responsible to conspiracy to dedicate fraud and conspiracy to defraud the United States in 2022.

Prasad, 55, of Mountain Home, California, labored at Apple from 2008 to 2018 as a customer in the firm’s Global Services Offer Chain unit. Together with two co-conspirators, who owned two companies that have been Apple suppliers, Prasad conspired to double-invoice Apple for areas it already owned or experienced obtained.

Prasad reported the plan commenced as considerably back as 2011. It netted him far more than $17 million and ran for eight years. Prasad also engineered “sham invoices” that permitted one particular of his co-conspirators, Don Baker, to acquire unjustified tax deductions valued at extra than $1.8 million.

“Prasad was supplied sizeable discretion to make autonomous decisions to profit his employer,” federal prosecutors and Interior Earnings Services investigators explained in a statement Wednesday. “Prasad betrayed this trust, and abused his electrical power to enrich himself at his employer’s price.”

In addition to his prison sentence, Prasad will forfeit $5.5 million worth of belongings, shell out a dollars judgment of $8.1 million, and restitution of $17.4 million to Apple and $1.9 million to the IRS.

Apple did not immediately react to a request for remark.



Source

TikTok loses bid to dismiss lawsuit alleging its ‘addictive design’ exploits kids
Technology

TikTok loses bid to dismiss lawsuit alleging its ‘addictive design’ exploits kids

FILE PHOTO: TikTok app logo is seen in this illustration taken, August 22, 2022.  Dado Ruvic | Reuters A judge this week rejected TikTok’s attempt to dismiss a lawsuit by the state of New Hampshire accusing it of using manipulative design features aimed at children and teens. “The Court’s decision is an important step toward […]

Read More
Nvidia’s Jensen Huang sells more than  million in stock, catches Warren Buffett in net worth
Technology

Nvidia’s Jensen Huang sells more than $36 million in stock, catches Warren Buffett in net worth

Jensen Huang, CEO of Nvidia, holds a motherboard as he speaks during the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, on June 11, 2025. Gonzalo Fuentes | Reuters Nvidia CEO Jensen Huang unloaded roughly $36.4 million worth of stock in the leading artificial intelligence chipmaker, […]

Read More
Tesla to officially launch in India with planned showroom opening
Technology

Tesla to officially launch in India with planned showroom opening

Elon Musk meets with Indian Prime Minister Narendra Modi at Blair House in Washington DC, USA on February 13, 2025. Anadolu | Anadolu | Getty Images Tesla will open a showroom in Mumbai, India next week, marking the U.S. electric carmakers first official foray into the country. The one and a half hour launch event […]

Read More