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.
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