- U.S. prosecutors accused a former Apple Inc (NASDAQ:AAPL) employee of swindling the iPhone maker out of more than $10 million, Reuters reports.
- Dhirendra Prasad, scheduled for trial on March 24, faced five criminal counts after exploiting his "position of trust" as a buyer in Apple's global service supply chain.
- Prasad allegedly defrauded Apple by taking kickbacks, stealing parts using false repair orders, and compelling Apple to pay for items and services it never received.
- Prasad also dodged taxes and laundered proceeds from his schemes. Apple fired him in December 2018 after a decade of employment.
- The prosecutors also look to forfeit millions of dollars of real property and other assets from Prasad.
- Price Action: AAPL shares traded lower by 0.23% at $163.61 in the premarket on the last check Monday.
