A New Mexico woman has been sentenced to 18 months in federal prison after she stole $1 million worth of Apple Inc (NASDAQ:AAPL)-made music players meant for Native American students.
What Happened: Kristy Stock, 62, a former employee of the Central Consolidated School District in New Mexico, admitted that from 2013 to 2018 she stole more than 3,000 iPods, according to a statement from the Department of Justice, first noted on Apple Insider.
The devices were purchased by the school district for Native American children living on tribal reservations in New Mexico. Stock sold them on eBay Inc’s (NASDAQ:EBAY) platform through other individuals, as per the Department of Justice.
“Stock admitted that she received more than $800,000 in illegal proceeds from selling stolen iPods worth more than $1 million.”
Stock’s associates sold the iPods on eBay “at a substantial markup,” as per the Department of Justice.
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Why It Matters: In addition to stealing the iPods, Stock also admitted to filing false tax returns for calendar years 2012 to 2017, failing to report “significant amounts of taxable income, causing a tax loss to the United States of $270,821,” the Department of Justice said.
Stock’s 18-month prison sentence will be followed by three years of supervised release. She was sentenced for federal charges of interstate transportation of stolen goods and tax fraud.
Last year, Apple sued a former recycling partner for stealing more than 100,000 devices such as iPhones, iPads, and Apple watches.
Price Action: On Thursday, Apple shares closed 1.9% lower at $172.19 in the regular session.
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