Home Stock Market U.S. fees former Apple purchaser with defrauding greater than $10 million from firm By Reuters

U.S. fees former Apple purchaser with defrauding greater than $10 million from firm By Reuters

U.S. fees former Apple purchaser with defrauding greater than $10 million from firm By Reuters

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© Reuters. FILE PHOTO: The Apple Inc. emblem is seen within the foyer of New York Metropolis’s flagship Apple retailer January 18, 2011. REUTERS/Mike Segar

By Jonathan Stempel

(Reuters) – U.S. prosecutors have charged a former Apple Inc (NASDAQ:) worker with defrauding the iPhone maker out of greater than $10 million in a sequence of schemes.

Dhirendra Prasad faces 5 felony counts after exploiting his “place of belief” as a purchaser in Apple’s world service provide chain to defraud the corporate, based on filings on Friday with the federal courtroom in San Jose, California.

Prosecutors mentioned that as an Apple purchaser, Prasad negotiated with distributors and positioned orders, with Apple making funds based mostly on bill quantities he entered into its buying system.

Prasad allegedly defrauded Apple by taking kickbacks, stealing components utilizing false restore orders, and inflicting Apple to pay for objects and companies it by no means acquired

Prosecutors mentioned Prasad additionally evaded taxes on and laundered proceeds from his schemes. Apple fired him in December 2018 after a decade of employment, courtroom papers present.

It’s unclear whether or not Prasad has a lawyer. Prasad couldn’t instantly be reached on Sunday for remark. A cellphone quantity listed for him has been disconnected.

Two house owners of distributors that did enterprise with Apple and who allegedly conspired with Prasad on related fraud schemes pleaded responsible to associated fees in December, courtroom data present.

Prasad faces fees together with conspiring to commit wire and mail fraud, commit cash laundering and defraud the US, in addition to tax evasion.

His arraignment is scheduled for March 24. Prosecutors additionally need Prasad to forfeit tens of millions of {dollars} of actual property and different property.

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