Indian-origin Apple employee stole Rs 138 crore from company by taking bribes and inflating invoices

Apple's CEO Tim Cook himself arriving in India and opening doors to a massive store in the heart of its financial capital, shows how important the country is for the brand. As it seeks to tap the demand for high-end devices in India, Apple is also offering Rs 1 lakh per month to employees at its first store in India, which is four times higher than rivals.

Amidst these developments, an Indian-origin Apple employee has been found guilty of stealing Rs 138 crore from the tech giant.

Slapped with jail term and massive penalties

• After pleading guilty to siphoning off the amount, 55-year-old Dhirendra Prasad has been ordered to pay Rs 155 crore to Apple and will also spend three years in prison.

• In addition to this, he will also have to pay another Rs 15 crore as penalty for tax evasion.

Exploited his position and trust

• Taking advantage of his position as a buyer in Apple's global supply chain, Prasad stole parts, accepted bribes, overstated prices in invoices, and took payment from Apple for orders that were never delivered.

• He was responsible for buying parts and services for Apple, and also colluded with two vendors to pull off the scam.

• Prasad was found guilty of violating the trust that Apple placed in him to make decisions with autonomy while making purchases.