Though caught late, a former senior manager at Foxconn allegedly stole 5700 iPhones from the firm’s manufacturing plant and sold it in the open market, in the process earned about $1.56 million which comes out to be around 10.6 crores. 
If you are not aware, Foxconn is a technology giant based in Taiwan which manufactures and assembles iPhones for Apple. The incident actually took place in 2013-2014 when the manager Tsai who used to work in the testing department secretly instructed eight employees under him to sneak out thousands of iPhone 5 and iPhone 5S which he later on sold off in the market. According to the report, the incident was reported from a Foxconn factory located in the southern mainland Chinese city of Shenzhen.
As mentioned before, Foxconn being the manufacturer of Apple’s iPhone, thousands of prototypes and final devices are seen lying around the factory for testing. So, Tsai smuggled out these devices which came in for testing and sold them on. Moreover, it took some time for Foxconn to identify this fraud because devices which come for testing are eventually scrapped off so there was no evidence of the scrapped off devices. However, a recent internal audit finally caught Tsai and if found guilty, the former senior manager will be sentenced to 10 years in prison, as per the prosecutors.
Interestingly, this is not the first time Foxconn has made headlines for the wrong reason. Back in 2014, a bunch of Foxconn employees took about Taiwan Dollars (TWD )160 million as bribes to bypass devices through quality checks. And last month, they were eventually sentenced to 10 years and six months prison by Taipei’s district court last month.