In the US, a Former Employee of Apple with Indian Ancestry was Sentenced for Fraud and Tax Crimes

An employee of Apple of Indian ancestry has been given a three-year prison term. He was sentenced to pay the business more than $19 million for stealing $17 million from it. According to a press release by the US attorney's office, he made Apple Pay for goods the firm never got.

In November of last year, Prasad, an employee of Apple's worldwide service supply chain from 2008 to 2018, pleaded guilty to conspiring to defraud Apple and related tax offenses after being accused in March 2022.

The article stated that Prasad acknowledged stealing money from Apple by accepting kickbacks, stealing components, fabricating invoices, and billing the business for things that were never delivered. Additionally, he admitted to planning these activities with the leaders of two vendor businesses and omitting taxes on the income.

Following the US Department of Justice, Prasad attempted to mask his criminal activities by taking advantage of his status at Apple and using insider knowledge of the company's fraud detection procedures.

For ten years, Prasad was employed by Apple. He was responsible for purchasing the components Apple would need to repair outdated electronics while warranties still covered them. He and two other businesses that supplied Apple with parts defrauded the company of more than $17 million. Prasad didn't pay taxes on the money he earned from this.

In the government's sentencing memo, it is said that because of his employment with Apple, Prasad had a great deal of autonomy to make judgments that would benefit his company. Prasad betrayed this trust by taking thousands of dollars in payments while accepting compensation from Apple in salary and bonuses.

He used his position of authority to enrich himself at his employer's expense. The press release states that Prasad also devised criminal plans to avoid detection using his insider knowledge of the company's fraud-detection methods. At Apple, Prasad had a rewarding position where he could make choices that would benefit the business.

However, he used his influence to enrich himself at Apple's expense, causing significant financial loss. He took precautions to avoid being discovered because he knew how Apple would try to catch those engaging in the same activity as him.

At Apple, Prasad had a rewarding position where he could make choices that would benefit the business. However, he used his influence to enrich himself at Apple's expense, causing significant financial loss.

He took precautions to avoid being discovered because he knew how Apple would try to catch those engaging in the same activity as him.

As a result of defrauding Apple, Prasad will now serve three years in prison and must return all of the assets he acquired. He must also reimburse himself for any taxes he failed to pay. He will be attentively observed for three years after his release from prison.

Prasad was apprehended by Michael G. Pitman and Karen, who then brought charges against him. To look into his activities, they collaborated with the IRS.

 

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