Former Apple Employee Must Repay $19 Million After Defrauding the Company

A former Apple employee has been sentenced to three years in prison and must pay back over $19 million in restitution for stealing around $17 million from the tech giant through mail and wire fraud schemes. From a report: Dhirendra Prasad, 55, was originally charged in March 2022 and later pleaded guilty to conspiring to defraud Apple and related tax crimes back in November last year. Prasad was employed at the company between 2008 and 2018, mostly working as a buyer in Apple's global service supply chain, purchasing parts and services from vendors. In his written plea agreement, Prasad admitted he started siphoning money from his employer around 2011 by accepting kickbacks, stealing parts, inflating invoices, and fraudulently charging Apple for goods that were never delivered. He also admitted to evading tax on the proceeds of his schemes and conspiring on these activities with the owners of two vendor companies, who have been charged in separate cases.

Yet another one?

[shanen]

I'm still not asking who brain farted.

How does that math work?

[crtreece]

A person defrauds a company, and has to pay back 111% of what they stole. If Apple did this to consumers, why do I expect the fine would be more like 1% of the profit they made perpetuating the fraud?

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[tk77]

It's not all to Apple, some goes to the IRS.

FTA:

Prasad has agreed to pay back $19,270,683 in restitutions — $17,398,104 to Apple and $1,872,579 to the IRS for the tax he owes. He has also been ordered to forfeit over $5.4 million worth of assets that the government has already seized and pay an additional $8.1 million in cash.

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[Glyphn]

Honest question here:

I'm curious, how does one pay back something like $20 million? I assume most thieves only retain a fraction of value of the original stolen goods/funds. In this case, it sounds like he has roughly $5 million to forfeit so presumably that brings the total down, but even if he could scrape up $10 million, what's left is a number I have a hard time wrapping my mind around.

And I assume it will be very hard for most thieves to find lucrative legal employment after felony conviction/prison.

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[tk77]

So, after someone in this position is squeezed dry and they serve their time, what next? Is there incentive for them to seek employment, and can they gain it? Or ... is this pretty much a one way financial trip to nothing?

This, I honestly don't know. Doing some quick searching it looks like most of the time it isn't really expected that the full amount will be paid back. Most likely the one ordered to pay will have some minimum payment amount that they will have to make on regular intervals, probably for the rest of their life. If they skip out on payments on purpose, then it could be back to prison for them.

So, Apple is probably not expecting to get anywhere near their $17mil back, nor the IRS the $1.87mil in taxes they

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[tk77]

It looks like a restitution order is only enforceable for 20 years (if I'm reading it correctly). In that case perhaps they will only have to make payments for up to 20 years. Just guessing here with zero knowledge and reading this:

https://www.justice.gov/crimin... [justice.gov]

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[cstacy]

So, after someone in this position is squeezed dry and they serve their time, what next? Is there incentive for them to seek employment, and can they gain it?

I think the way it works is that the court mandates that you seek and maintain gainful employment after prison. The garnish about 20% of your income off the top. If you lose your job and don't get another one pronto, back to prison you go.

Of course, you're only going to get a meager job, because you're a convicted felon. What is the gross income for an ordinary barber? You will live in poverty, especially after that huge cut they're taking. Of course, on $10M, the company will by the end of your life (50 ye

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[pete6677]

Seems easier to just stay in prison.

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[bill_mcgonigle]

> Or it;s back to the anal-rape house you go, bitch

Stop normalizing anal rape torture as part of imprisonment. It's depraved.

Lead an effort to repeal the Eigth Amendment if you think you can get support.

In the meantime many innocent men are sent to prison.

Wow!

[fropenn]

He stole $17 million from Apple!

How did his supervisor not notice those 4 missing MacBook Pros?

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[alvinrod]

That's why they fired Jony Ive. He was making them too thin.

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[cstacy]

He stole $17 million from Apple!

How did his supervisor not notice those 4 missing MacBook Pros?

I get zillions of mod points and it's a chore to spend them. Then, on the good days, when I wish I had them, I gots none. +1 Funny, my good fellow!

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[bn-7bc]

Yea mod points, hmm that system is btoken, if you comment in a thread you can't miderate in it, nit even if yout moderation is 5 levels out and nested outside where you made your comment, so if ( personal pov time) I find a commend I would like to moderate ( it could even be to up vote it ), this hinders me from commenting on any other view in any comment connected to that storry kest my moderation be undone,net result I never moderate because I feel it gives me a disincentive to comment. I suppose the krig

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[bn-7bc]

Yes wery funny, Apple hw is so exsoensive, I gave a tip for you "comedy is just a hobby, don't quit your day job". Or did i misse somthing in the summary ?

Embezzel app drops

[cstacy]

TheyWatched. HeFucked.
iDontCare