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Apple ex- employee admits to defrauding company of $17 million

A former Apple employee has pled guilty for stealing over $17 million from the company. According to the US Attorney's Office for the Northern District of California, Dhirendra Prasad admitted to "taking kickbacks, inflating invoices, stealing parts, and causing Apple to pay for items and services never received" during his decade-long tenure at Apple. Prasad began these programmes in 2011 and continued them until 2018.

Prasad shipped motherboards from Apple's inventory to CTrends, a company run by a co-conspirator, Don M. Baker, in one scam (who previously admitted to taking part in the fraudulent schemes). Baker extracted components from motherboards, and Prasad organised purchase orders for those components. After Baker returned the components to Apple, CTrends issued invoices, which Prasad paid. Finally, the pair convinced Apple to pay for its own components and split the scam's profits.

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