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A former Apple employee has been indicted on federal charges, accused of defrauding the company out of $10 million. Prosecutors said that Dhirendra Prasad, 52, took kickbacks, stole equipment, laundered money during his ten-year career as a buyer in Apple's Global Service Supply Chain department.
The federal government was granted a court order to seize five of Prasad's residential properties and about $5 million from his bank accounts. The government has petitioned to keep the assets as the proceeds of a crime.
Two men who owned vendors that did business with Apple admitted to conspiring with Prasad to defraud the tech company and launder money. They are both facing federal charges in separate cases.
Prasad is facing charges of engaging in a conspiracy to commit fraud, money laundering, and tax evasion. Each charge carries a possible sentence of between five and 20 years behind bars.
It is unclear if Prasad has a lawyer. He is scheduled to appear in court later this week to answer the charges against him.