Even in an era of online shopping, the airy, open retail spaces make an average of more than $5,500 per square foot, according to a 2017 analysis by retail estate analytics firm CoStar - almost double the amount that jeweler Tiffany & Co generates.Īnd with Apple's signature brushed aluminium products lying around on every table, the stores can be a magnet for criminals.Ī 17-member gang was busted in 2018 charging into multiple Apple Stores across California and grabbing merchandise before hightailing it in a getaway car, making more than $1 million before they were caught. The crime shows how in the digital age, traditional smash-and-grab robberies are being superseded by more sophisticated schemes - and how technology companies' own tools can be used against them.Īpple, currently valued at $2.4 trillion, has some of the most valuable stores in the world. They are awaiting sentencing in the coming weeks. The case has quietly spent the last few years winding its way through the courts, according to documents reviewed by Insider, and both men have now pleaded guilty to wire fraud in the Southlake store caper (earlier filings by prosecutors allege a series of similar incidents at various Apple stores). In a shrewd scheme worthy of a heist movie, they executed their plan using Apple's own technology - in particular, Apple retail store employees' specialized devices. The pair were part of a sophisticated, multi-year plot that defrauded Apple out of more than $1.5 million, US prosecutors have said. Have an account? Log in.Īnd then, prosecutors say, they did it again, over and over and over. This story is available exclusively to InsiderĪnd start reading now. Account icon An icon in the shape of a person's head and shoulders.
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