Apple employee who defrauded company of millions sentenced to three years in prison
Publishing timestamp: 2023-04-28 13:34:53
Summary
Dhirendra Prasad, a former Apple employee, has been sentenced to three years in prison and ordered to pay over $19 million in restitution for his role in supplier fraud. Prasad conspired with two co-conspirators to double-bill Apple for parts it had already paid for, netting him over $17 million. He also engineered "sham invoices" that allowed one of his co-conspirators to take unjustified tax deductions. Prasad will forfeit $5.5 million worth of assets, pay a money judgment of $8.1 million, and restitution of $17.4 million to Apple and $1.9 million to IRS.
Sentiment: NEGATIVE
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Keywords: crime, breaking news, fraud and false statements, apple inc, collusion, court decisions, technology, business news,