Former Apple Employee Admits to Embezzling 24 Billion Won of Company Funds Over 7 Years

[Image source=Reuters Yonhap News]

[Asia Economy New York=Special Correspondent Joselgina] A former Apple employee admitted to embezzling $17 million (24 billion KRW) of company funds over seven years while working at the company. He could face up to 20 years in prison.

According to the AP News and others on the 4th (local time), Direndra Prasad, who was prosecuted on charges of embezzling hundreds of billions of won while working at Apple, recently admitted to the crime in federal court.

Prasad was in charge of purchasing parts at Apple from 2008 to 2018. From 2011, he committed these crimes together with two accomplices from partner companies. He received rebates from partner companies as payment for supplying parts, stole parts, and altered invoices. Through these methods, the amount embezzled over seven years reached $17 million.

In the process, Prasad is also charged with tax evasion of approximately $1.8 million by issuing false tax invoices.

Sentencing for Prasad will take place in March next year. Local media reported that he could be sentenced to up to 20 years in prison.

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