A former Apple buyer has been sentenced to three years in prison for defrauding the company of $17 million.
Dhirendra Prasad of Mountain House, California, who was a buyer in Apple’s Global Service Supply Chain, was also ordered to pay over $19 million in restitution to Apple and the Internal Revenue Service (IRS) for the fraud and related tax crimes, the United States Attorney’s Office, Northern District of California said in a Wednesday (April 26) press release.
Prasad pleaded guilty in November 2022 to one count of conspiracy to commit mail fraud and wire fraud and one count of tax evasion, according to the release.
The criminal conduct took place between December 2008 and December 2018 while Prasad was employed by Apple to help the company buy parts it used to perform warranty repairs on older devices, the release said.
“Prasad exploited his position and conspired with two separate Apple vendors to defraud Apple by taking kickbacks, stealing parts, inflating invoices and causing Apple to pay for items and services it never received — resulting in a lot to Apple of more than $17,000,000,” the U.S. Attorney’s Office said in the release.
The release added that Prasad engaged in two separate criminal conspiracies with vendors and evaded tax on the proceeds of his schemes.
The government’s sentencing memorandum also said that Prasad had been given substantial discretion to make decisions, enriched himself at his employer’s expense while accepting salary and bonuses, and used his insider knowledge of Apple’s fraud-detection techniques to further his efforts, the release said.
Featured News
Wilson Sonsini Bolsters Antitrust and Competition Practice with Key Partner Returns
May 8, 2024 by
CPI
EU to Scrutinize Telecom Italia’s Network Sale to KKR
May 8, 2024 by
CPI
Turkey Hits Meta with $37.20 Million Fine Over Data-Sharing Practices
May 8, 2024 by
CPI
Google Seeks Dismissal of UK Suit Over Alleged Anti-Competitive Practices
May 8, 2024 by
CPI
Redfin Settles $9.2M Commission Inflation Lawsuits
May 7, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI