Apple Ex-Employee Sentenced 3 Years For Stealing $17 Million
A former Apple employee has now been sentenced to three years in prison for cheating the US computer company out of $17 million. He also has to repay the sum in full – and he also owes the state taxes on his “loot”.
According to documents from the office of the US Attorney for the District of Northern California, a former Apple employee has been sentenced to three years in prison after being found to have stolen $17.4 million from the company. The man has to pay back the full amount, although investigators have already been able to confiscate $5.5 million.
Fraud was only discovered after seven years
Add to that $8.1 million he has to pay as part of an embezzlement penalty. The court also ruled that the man had to pay the IRS an additional $1.9 million in back taxes because he had failed to pay taxes as part of his fraudulent activities.
The perpetrator had developed an elaborate system with which he was able to generate a highly lucrative “side income” while working in Apple’s procurement department by manipulating invoices, accepting bribes, and stealing components. He also made Apple pay for services and items that were never actually purchased.
The now-convicted former Apple employee came to the company in 2008. He started his fraudulent activities in 2011 and was only convicted in 2018. After the end of the prison sentence, the man remains at large for another three years, but is constantly monitored by the authorities.
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