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Former Employee Who Defrauded Apple Sentenced to 3 Years in Prison and $19 Million in Fines

Solomani said:
Well..... give this white collar criminal some credit. He worked at Apple for over 10 years, 2008 to 2018. Per article, he started taking kickbacks since 2011. And was only caught and terminated in 2018. That's at least 7 years of corruption and theft.

Apple is a huge company, it has more employees than many small national governments (if you count the nation's government-paid employees). So yeah, I would imagine that Apple still has a handful of crooks and weasels like Prasad contributing to the internal corruption. They just haven't been caught yet.
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oh yeah. we only hear about these large-scale ones that get caught.

I guarantee there are plenty of other people defrauding Apple and other companies in ways that make it look like everything with the numbers/books is fine.

what I’m curious about is how he slipped up and got caught. did someone rat him out? did he slip up in a major way which made him get investigated?

I wonder.
 
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UK-MacAddict said:
I think Tim Cook needs to pay back billions in fines to Apple customers he’s skanked by overcharging for every product in the last 5-6 years.

All whilst paying a pittance to the China sweatshops that build the products.
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i don't see how that'd be good for the shareholders
 
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newyorksole said:
oh yeah. we only hear about these large-scale ones that get caught.

I guarantee there are plenty of other people defrauding Apple and other companies in ways that make it look like everything with the numbers/books is fine.

what I’m curious about is how he slipped up and got caught. did someone rat him out? did he slip up in a major way which made him get investigated?

I wonder.
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Yes. If he got away with it for at least 7 years, he probably had "a game plan" to avoid getting caught, and he had a detailed plan to cover things up very well. So the most likely scenario is that someone (maybe a minor accomplice) ratted on him.

Crooks can often count on Plan A and Plan B and other cover-ups. What they cannot count on is the reliability and loyalty of fellow conspirators and fellow humans.
 
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UK-MacAddict said:
I think Tim Cook needs to pay back billions in fines to Apple customers he’s skanked by overcharging for every product in the last 5-6 years.

All whilst paying a pittance to the China sweatshops that build the products.
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We pay what we're willing to for the products. They don't cost any more, really, than other products of similar quality (if you can you even find them), but even if they did, so what. We're paying for them because, to us, they're worth what we're paying. If we honestly didn't feel like they were worth the money, we would buy something else.

Ergo, 'Tim' isn't overcharging.
 
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The Cappy said:
These cases are always very interesting to me. If I committed a crime and stole $17 million... I can totally understand court saying I had to pay the money back. And maybe if I'm frugal I've still got a bunch of that $17m left. But then telling me I need to pay another $13.5m + $1.8m... Ok, so I don't know how many scams he's got going. But if it was me, I definitely wouldn't be able to pay anybody even $1m. Does the court actually have the lively expectation he'll be able to pay these moneys?
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No, but his wages will be garnished (ostensibly) for the rest of his life. If he legitimately made millions in the future — regardless of the likelihood — the judgment lets Apple recoup losses.
 
eoblaed said:
We pay what we're willing to for the products. They don't cost any more, really, than other products of similar quality (if you can you even find them), but even if they did, so what. We're paying for them because, to us, they're worth what we're paying. If we honestly didn't feel like they were worth the money, we would buy something else.

Ergo, 'Tim' isn't overcharging.
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Yep. The one that is "guilty" is the person that feels they overpaid. No one forced them to buy, no one forced them to pay for something they think is overpriced. They made a poor decision.
 
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pubb said:
While I don't excuse criminality, this guy stole the equivalent of change lost in Apple's couch cushions and did it nonviolently.

If someone broke into your house and stole a quarter, they wouldn't face such harsh penalties.
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Yes they would! They would be force to give the quarter back, plus another 20 cents on top of that. The fine is scaled with the amount stolen.
 
UK-MacAddict said:
I think Tim Cook needs to pay back billions in fines to Apple customers he’s skanked by overcharging for every product in the last 5-6 years.

All whilst paying a pittance to the China sweatshops that build the products.
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Apple has an army of highly paid lawyers and lobbiests to ensure the laws are written to make their behavior legal. This guy didn't have that.
 
Mr. Dee said:
Greed! You could have built a decent respectable life, but took a shortcut to get millions of dollars without considering the consequences.
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Agreed. This is a proper message that Crime Doesn't Pay. (for the most part, somehow some get away, aka "White Collar Crimes" are rarely punished).

Man he even didn't pay the IRS, what a fool!
 
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antnythr said:
Perhaps one day we will advance as a society and also start punishing corporations and their executives with exceptionally large, deterrent level fines as well 🙏
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Well, they seem to have started with Elizabeth Holmes.
 
UK-MacAddict said:
I think Tim Cook needs to pay back billions in fines to Apple customers he’s skanked by overcharging for every product in the last 5-6 years.

All whilst paying a pittance to the China sweatshops that build the products.
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I think that unless Tim Cook held you at gunpoint and forced you to buy a new iPhone very year, you don't really have a case. 😛
 
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GMShadow said:
And yet it took seven years to notice. Not condoning what he did, but clearly there were issues with the processes he was able to exploit for longer than any accountant or auditor would like.
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He was also in charge of the processes.

His salary and bonuses were also commensurate with that of a senior buyer in charge of the anti-fraud processes.

The greedy schmuck.
 
The Barron said:
Boo! "You get what you pay for." In this case the guy got what he deserved - prison, ruined lifestyle and a sordid business reputation. Tough! As they saying goes, "You do the crime; you do the time!"
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The same should apply to companies.
If a company is caught knowingly defrauding a patent should the employees involved not go to jail?
 
npmacuser5 said:
No expecting the payment. A lean on his assets the rest of his life. The ability of him doing anything financial will be severely limited to just basic life costs. Anything else will be sent to Apple and others. Essentially a life financial penalty. Not to mention, the ability to get another career going, not looking good.
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Then it is a life sentence, that goes beyond just punishing a man for his non-violent crime of stealing money from his company and BTW $17 millions are just decimals that are rounded in Apple's financials so absolutely irrelevant for them. Should he return the money with interest to Apple? Definitely! Should he get some period in prison to rethink his behavior in society? Definitely! Should he be financially incapacitated for the rest of his life with a criminal record that would follow him until he dies? Not really.

People like these should be given a second opportunity, especially when we talk about non-violent crimes that definitely did ruin anyone's life.

One thing is stealing all life-savings from normal people changing the their life forever, and completely different is scaming a large corporation that did not even notice that a few millions are being stolen/misused for several years. The actual harm you are doing is just incomparable.

Obviously, justice was not served IMO. Hope he could appeal and get a more reasonable punishment. US justice system is broken.
 
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nikaru said:
Then it is a life sentence, that goes beyond just punishing a man for his non-violent crime of stealing money from his company and BTW $17 millions are just decimals that are rounded in Apple's financials so absolutely irrelevant for them. Should he return the money with interest to Apple? Definitely! Should he get some period in prison to rethink his behavior in society? Definitely! Should he be financially incapacitated for the rest of his life with a criminal record that would follow him until he dies? Not really.
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I think you’re not understanding that you can’t have one without the other. How is he supposed to pay back all of those millions plus interest and not be financially crippled for the rest of his life??
 
For a very long time, humans evolved to be hunters and gatherers. As a reaction to a thought form, modern man loves “gathering” money because of what s/he erroneously believes it will bring: happiness.
 
Mr. Dee said:
Greed! You could have built a decent respectable life, but took a shortcut to get millions of dollars without considering the consequences.
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Win some, lose some.

You miss 100% of the shots you don’t take.

Etc.
 
Apple_Robert said:
Good news. I always like seeing the bad person get what is coming to them.
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Can’t help thinking that it is also bad news because an essentially good person -no idea who this person is but I say this because to me goodness is the essence of humanity- succumbed to stupid, criminal behavior that may have seemed a good idea to him at the time but will regret by him deeply the moment it becomes crystal clear to him that he only deceived others because he was deceiving himself.
 
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