Former employee admits defrauding Apple of $17 million

SAN JOSE, Calif. (AP) — Federal prosecutors say a former Apple employee pleaded guilty Tuesday to defrauding the tech giant out of more than $17 million over seven years. The U.S. Attorney’s Office says Dhirendra Prasad’s plea agreement describes the schemes he carried out while he worked as a buyer for Apple’s Global Service Supply chain. For one scheme, prosecutors said Prasad arranged to have Apple components shipped to an outside vendor’s warehouse, where they were repackaged and eventually sold back to Apple. He could face more than 20 years in prison when he’s sentenced next March.