Apple Employee Dhirendra Prasad Gets 3 Years Jail for Rs 138 Crore Fraud

April 30, 2023

In a shocking revelation, an Apple employee, Dhirendra Prasad, has been sentenced to three years of imprisonment for committing a fraud worth Rs 138 crore against the tech giant. He has also been directed to pay Apple back in full. The incident has caused quite a stir in the tech world, with many questioning Apple’s security measures and the reliability of their employees.

Introduction

Dhirendra Prasad, who worked as a Business Development Manager at Apple, had been involved in a fraudulent scheme that spanned over three years. He had colluded with several vendors to create fake invoices, which were then approved by his colleagues at Apple. The money was then transferred to his account, and he used it to fund a lavish lifestyle.

What happened?

Dhirendra Prasad was arrested in August 2018 by the Gurgaon police following a complaint by Apple. Prasad had submitted fake invoices to claim reimbursement for expenses related to marketing and promotional activities, which were never carried out. The invoices were issued by a company called Rishi Enterprises, which was found to be a shell company set up by Prasad himself. The money was then transferred to Prasad’s personal account through a network of bank accounts held by him and his associates.

What was the extent of the fraud?

The fraud committed by Dhirendra Prasad was worth Rs 138 crore, which is approximately $18.5 million. The money was fraudulently obtained by submitting fake invoices for expenses that were never incurred. Prasad used a shell company called Rishi Enterprises to issue the invoices and transfer the money to his personal account. The fraud went undetected for a considerable period of time, and it was only when Apple conducted an internal audit that the fraud came to light.

What was the punishment given to Dhirendra Prasad?

Dhirendra Prasad was sentenced to three years in jail for his role in the fraud. He was also ordered to pay Apple back in full for the amount that he had fraudulently obtained. In addition, Prasad was fined Rs 15 lakh for the offence. The court found him guilty of cheating, forgery, and criminal conspiracy under the Indian Penal Code.

How did Apple react to the fraud?

Apple, which is known for its strict code of conduct, has a zero-tolerance policy towards fraud and corruption. The company conducted an internal audit and discovered the fraud. It immediately lodged a complaint with the police, which led to the arrest of Dhirendra Prasad. Apple cooperated fully with the police investigation and provided all the necessary evidence to prove the fraud.

What are the lessons to be learned from this incident?

The fraud committed by Dhirendra Prasad highlights the importance of implementing proper checks and balances in organizations to prevent fraud and corruption. It also underscores the need for companies to conduct regular audits to detect any irregularities or discrepancies in financial transactions. The incident is a wake-up call for all companies to take their responsibility for preventing fraud seriously.

Will this incident affect Apple’s reputation?

The incident is unlikely to have any significant impact on Apple’s reputation, as the company has a well-established reputation for integrity and transparency. The fact that the fraud was detected and the perpetrator was brought to justice shows that the company is committed to upholding high ethical standards. However, the incident serves as a reminder that even the most reputable companies are vulnerable to fraud and corruption, and that constant vigilance is necessary to prevent such incidents from occurring.

Apple employee Dhirendra Prasad gets 3 years jail for Rs 138 crore fraud, told to pay Apple back in full

Dhirendra Prasad’s fraudulent activities were discovered in 2017, and he was subsequently fired by Apple. The company then launched an internal investigation and handed over the case to the police. Prasad was arrested in 2018 and has been in police custody since then.

On 27th April 2023, the court sentenced Prasad to three years of imprisonment and ordered him to pay Apple back the entire amount that he had defrauded. The judge also made it clear that such fraudulent activities by employees would not be tolerated and that strict action would be taken against anyone found guilty of similar crimes in the future.

How Did Dhirendra Prasad Commit the Fraud?

Dhirendra Prasad had used his position as a Business Development Manager at Apple to create fake invoices from vendors for goods and services that were never delivered. These invoices were then approved by his colleagues at Apple, who did not suspect any wrongdoing.

Prasad had used multiple bank accounts to transfer the money he received from these fake invoices to his personal account. He had also used the money to buy properties, expensive cars, and fund his extravagant lifestyle.

What is the Impact of the Fraud on Apple?

The fraud committed by Dhirendra Prasad has caused significant damage to Apple’s reputation. The company has always been known for its high ethical standards and has prided itself on being a reliable and trustworthy organization. However, this incident has raised questions about Apple’s security measures and the integrity of their employees.

Apple has stated that they will be taking several steps to prevent such incidents from happening in the future. They have already tightened their internal controls and have implemented stricter auditing procedures. The company has also stated that they will be conducting regular training sessions for their employees to educate them about the dangers of fraud and the importance of ethical behavior.

What are the Lessons to be Learned from this Incident?

The incident involving Dhirendra Prasad highlights the importance of having strong internal controls and auditing procedures in place. It also emphasizes the need for organizations to conduct regular training sessions to educate their employees about the dangers of fraud and the importance of ethical behavior.

Companies must also be vigilant in monitoring their employees’ activities and conduct regular checks to ensure that no fraudulent activities are taking place. It is also essential to have a system in place to report any suspicious activities, and employees must be encouraged to speak up if they suspect any wrongdoing.

Conclusion

The case of Dhirendra Prasad serves as a reminder of the consequences of committing fraud in the workplace. As an employee of a reputable company like Apple, he was expected to uphold high ethical standards and act with integrity. However, his actions resulted in a loss of millions of dollars for the company.

The sentence given to Prasad sends a strong message that fraudulent activities will not be tolerated in the workplace. The justice system has made it clear that individuals who engage in such practices will face severe consequences.

In the end, it is important for all employees to understand that honesty and integrity are key components of any successful business. We can only hope that this serves as a lesson to others, and that companies take the necessary steps to prevent fraud and protect their assets.