Security News > 2022 > November > Former Apple worker pleads guilty to $17m mail and wire fraud charges

A one-time Apple employee working as a buyer within the iGiant's supply chain department has pleaded guilty to mail and wire fraud charges spanning multiple years, ultimately costing the company $17 million.

According to the US Attorney's Office for the Northern District of California, Prasad admitted in a written statement that he began to defraud Apple as early as 2011 by "Accepting kickbacks, inflating invoices, stealing parts, and causing Apple to pay for items and services never received."

The former Apple worker ran these fraudulent schemes through to 2018 and "Ultimately resulted in a loss to Apple of more than $17 million," the office stated.

"The Attorney's Office added:"In addition to the many fraud schemes, Prasad admitted he engaged in tax fraud by funneling illicit payments from Hansen directly to Prasad's creditors.

"The United States also instituted a civil forfeiture action to forfeit the assets acquired by Prasad with the fraud proceeds, including multiple real properties he purchased and numerous financial accounts containing funds traced to Prasad's crimes. These assets have an aggregate value of approximately $5 million. Today, Prasad agreed to forfeit all the assets to the United States."

Prasad pleaded guilty to one count of conspiracy to commit mail fraud and wire fraud, carrying a maximum sentence of 20 years, and he also admitted one count of conspiracy to defraud the US "In violation of 18 U.S.C. 371." This carries a maximum sentence of five years.

News URL

https://go.theregister.com/feed/www.theregister.com/2022/11/02/apple_buyer_wire_money_fraud/