Former Employee Who Defrauded Apple Sentenced to 3 Years in Prison and $19 Million in Fines
Former Apple employee Dhidrenda Prasad was this week sentenced to three years in prison and was ordered to pay more than $17 million in restitution to Apple. Back in November, Prasad pled guilty to conspiracy to commit fraud and conspiracy to defraud the United States after stealing millions of dollars from Apple.
Prasad was part of Apple's Global Service Supply Chain department between 2008 and 2018, and his job was to buy parts and services from vendors for servicing older devices. In 2011, Prasad started accepting kickbacks, inflating invoices, and stealing parts, causing Apple to pay for components and services that it did not receive.
Two vendors worked with Prasad to steal money from Apple. His schemes included funneling illicit payments from the vendors to his creditors, tricking Apple into paying for components twice, and stealing components purchased by Apple and reselling them to Apple through his co-conspirators. In total, he was found guilty of stealing $17 million through mail and wire fraud.
He will forfeit nearly $5.5 million in assets that the government has already seized, and will need to pay an additional $8 million in forfeiture money. The $13.5 million forfeiture is on top of the $17 million that he must pay to Apple and the $1.8 million he owes to the IRS for not paying taxes on the money he received from Apple.
After serving three years in prison, he will have another three years of supervised release.
Popular Stories
Barclays analyst Tom O'Malley and his colleagues recently traveled to Asia to meet with various electronics manufacturers and suppliers. In a research note this week, outlining key takeaways from the trip, the analysts said they have "confirmed" that a fourth-generation iPhone SE with an Apple-designed 5G modem is slated to launch towards the end of the first quarter next year. In line with previo...
Apple released the AirTag in April 2021, so it is now three over and a half years old. While the AirTag has not received any hardware updates since then, a new version of the item tracking accessory is rumored to be in development.
Below, we recap rumors about a second-generation AirTag.
Timing
Apple is aiming to release a new AirTag in mid-2025, according to Bloomberg's Mark Gurman....
While the Logitech MX Master 3 is a terrific mouse for the Mac, reports claiming that Apple CEO Tim Cook prefers that mouse over the Magic Mouse are false.
The Wall Street Journal last month published an interview with Cook, in which he said he uses every Apple product every day. Soon after, The Verge's Wes Davis attempted to replicate using every Apple product in a single day. During that...
Apple today released iOS 18.1.1 and iPadOS 18.1.1, minor updates to the iOS 18 and iPadOS 18 operating systems that debuted earlier in September. iOS 18.1.1 and iPadOS 18.1.1 come three weeks after the launch of iOS 18.1.
The new software can be downloaded on eligible iPhones and iPads over-the-air by going to Settings > General > Software Update. Apple has also released iOS 17.7.2 for...
AT&T has begun displaying "Turbo" in the iPhone carrier label for customers subscribed to its premium network prioritization service, according to reports on Reddit. The new indicator seems to have started appearing after users updated to iOS 18.1.1, but that could be just coincidence.
Image credit: Reddit user No_Highlight7476
The Turbo feature provides enhanced network performance through ...
In a research note with Hong Kong-based investment bank Haitong today, obtained by MacRumors, Apple analyst Jeff Pu said he agrees with a recent rumor claiming that the so-called "iPhone 17 Air" will be around 6mm thick.
"We agreed with the recent chatter of an 6mm thickness ultra-slim design of the iPhone 17 Slim model," he wrote.
If that measurement proves to be accurate, there would be ...
The iOS 18.1.1, iPadOS 18.1.1, and macOS Sequoia 15.1.1 updates that Apple released today address JavaScriptCore and WebKit vulnerabilities that Apple says have been actively exploited on some devices.
With the JavaScriptCore vulnerability, processing maliciously crafted web content could lead to arbitrary code execution. The WebKit vulnerability had the same issue with maliciously crafted...
