A former Apple employee was ordered to pay Apple back after stealing $17 million from the company over several years and sentenced to three years in prison.
) that Prasad's job as an Apple buyer had him purchasing parts used for the repairs of older devices that were still under warranty. His position at Apple gave him discretion to make certain decisions that were supposed to help Apple.
The Justice Department said,"Prasad betrayed this trust, and abused his power to enrich himself at his employer’s expense – all while accepting hundreds-of-thousands of dollars' worth of compensation from Apple in the form of salary and bonuses. Additionally, Prasad used his insider information regarding the company's fraud-detection techniques to design his criminal schemes to avoid detection.
The sentence was handed down by the Hon. Beth L. Freeman, a United States District Judge, who ordered Prasad to pay $17,398,104 to Apple and $1,872,579 to the IRS. Besides this amount, which adds up to $19,270,683, Judge Freeman said that Prasad must give up assets valued at $5,491,713 and turnover cash in the amount of $8,133,005.
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