Apple Fired 50 Employees for $152,000 Matching Grant Fraud

Apple has fired almost fifty employees and charged six with fraud following an investigation into its Matching Grant program. The program, launched by CEO Tim Cook in 2018, was designed to encourage charitable giving by matching employee donations but was exploited in a fraud scheme, resulting in losses of $152,000 over three years. Matching Grant Program Exploited Apple's Matching Grant program doubles the impact of employee donations. For every dollar an employee donates to a charity, Apple contributes two dollars, with an annual limit of $10,000 per employee. This generous system aimed to boost charitable giving and enhance the company's positive image. However, some employees colluded with certain non-profit organizations, including those reportedly associated with the Indian community, to falsify donations. The scheme involved: Employees donating to specific non-profits. Apple matching these donations at a two-to-one ratio. Non-profits allegedly returning the original donation …