Former Apple employee admits to defrauding the company out of $17 million.

TL;DR

Dhirendra Prasad, who spent most of his decade at Apple working as a buyer in the Global Service Supply Chain department, admitted to "taking kickbacks, inflating invoices, stealing parts and causing Apple to pay for items and services never received,” .In one scam, Prasad shipped motherboards from Apple's inventory to CTrends, a company run by a co-conspirator, Don M. Baker (who previously admitted to taking part in the fraudulent schemes).In addition, Prasad arranged for a shell company to send sham invoices to CTrends with the aim of covering up illicit payments Baker made to him.Prasad also pled guilty to one count of conspiracy to defraud the United States, which has a maximum sentence of five years' imprisonment.Moreover, Prasad agreed to forfeit around $5 million worth of assets he accrued as a result of his criminal actions, including real estate properties."

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