Apple Loses Over $12 Million in Fake iPhone Return Scam With 16,000 Counterfeit Devices Swapped Over a Decade
The iPhone and other Apple products are quite lucrative compared to other devices as they hold their value pretty well over time. The iPhone, specifically, has been a victim of various scams in the past, and it appears that we have another case that has rested under the veil for about a decade. In a surprising turn of events, authorities have charged five people in a fraudulent scam that involves returning fake iPhone models to Apple Stores and getting replacements in return.