An Apple employee, Dhirendra Prasad, has been sentenced to three years in jail and fined Rs 15 lakh for a Rs 138 crore fraud. Prasad was found guilty of creating fake invoices and siphoning off funds from the company.
According to reports, Prasad had been working for Apple since 2015. And was responsible for managing its distribution network in India. Over a period of two years, he had allegedly created fake invoices for the purchase of goods and services that were never delivered to Apple.
The funds were then transferred to various bank accounts, including his own, through a complex network of shell companies. The fraud was discovered in 2017 when Apple conducted an internal audit and found irregularities in the accounts.
Following the discovery, Prasad was arrested and charged with cheating, forgery, and criminal breach of trust. After a long legal battle, he was found guilty and sentenced to three years in jail.
More About The Case
In addition to the jail term, Prasad has also been ordered to pay Apple back the full amount of the fraud. The amount is Rs 138 crore. If he fails to do so, he will have to serve an additional six months in jail.
The case has sent shockwaves through India’s corporate world, highlighting the need for stronger checks and balances to prevent such frauds. Experts say that companies need to implement stricter internal controls. And also conduct regular audits to prevent such incidents from happening.
Apple has released a statement saying that it is “committed to the highest standards of integrity and transparency in everything we do”. The company has also stated that it has implemented additional measures to prevent such incidents from happening in the future.
The case serves as a cautionary tale for employees who may be tempted to engage in fraudulent activities. The consequences of such actions are severe and can result in both legal and financial repercussions.
