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U.S. charges former Apple buyer with defrauding more than $10 million from company -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: This is the lobby of New York City’s Apple Inc. store, January 18, 2011. REUTERS/Mike Segar

Jonathan Stempel

(Reuters) – A former employee of Apple Inc (NASDAQ) was charged by U.S. prosecutors with defrauding Apple Inc of over $10 million through a variety of schemes.

According to Friday’s filings with San Jose Federal Court, Dhirendra Prasad is facing five criminal charges for allegedly using his position of trust as an Apple buyer to fraudulently defraud the company.

Prosecutors stated that Prasad was an Apple buyer and negotiated with vendors to place orders. Apple then made payment based on the amount of invoices he had entered into its purchasing software.

Prasad is accused of defrauding Apple, taking kickbacks and stealing parts with false repair orders. This caused Apple to spend money on items it didn’t receive.

Prosecutors also claimed that Prasad evaded tax and laundered funds from his schemes. After a decade in employment, Apple dismissed Prasad in December 2018. Court documents show that he was terminated by Apple.

Prasad does not appear to have a lawyer. Prasad was unable to be reached for comment on Sunday. Prasad’s phone number has been disconnected.

Court records reveal that two vendors who did business with Apple pleaded guilty in December to similar charges.

Prasad will be charged with conspiring against wire- and mail fraud, money laundering, and tax evasion.

His March 24 arraignment has been scheduled. Prasad will also be ordered by his prosecution to forfeit millions in real property and other assets.

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