Apple Executive Charged with Money Laundering

A former Apple worker has been busted for allegedly defrauding the tech behemoth out of $10 million by taking kickbacks, swiping equipment and laundering money.

Suspect Dhirendra Prasad, 52, a buyer in the company’s Global Service Supply Chain department, was charged with engaging in a conspiracy to commit fraud, money laundering and tax evasion, the US Attorney’s office in San Jose said Friday.

Prasad is accused of exploiting his position to defraud the company through several schemes, including stealing parts and forcing the company to pay for items and services it never received.

Two owners of vendor companies that worked with Apple have admitted to conspiring with Prasad to commit fraud and launder money, prosecutors said.

Prasad is set to make a first appearance in federal court in San Jose on Thursday. He faces maximum sentences of five to 20 years on each of the charges of fraud, money laundering and tax evasion.

A court has already allowed the federal government to seize five real-estate properties and financial accounts worth about $5 million from Prasad, and the government is seeking to keep those assets as proceeds of crime.