Former Apple employee admits bilking company out of $17 million

[kevinUsa]

employee pleaded guilty Tuesday to defrauding the tech giant out of more than $17 million over seven years, federal prosecutors said.

 

In a written plea agreement, Dhirendra Prasad described the schemes he carried out while he worked as a buyer for Apple's Global Service Supply chain, the U.S. Attorney's Office said.

 

Prasad admitted the fraud involved "taking kickbacks, inflating invoices, stealing parts, and causing Apple to pay for items and services never received," prosecutors said in a statement.

 

For one scheme, prosecutors said Prasad arranged to have Apple components shipped to an outside vendor's warehouse, where they were repackaged and eventually sold back to Apple.