[Question] Changing IMEI & Serial numbers on iPhones

So a certain genius that I work under thinks its a good idea to purchase a piece of hardware that reprograms the chip on the logic board, (he is referring to this chip as the SSD, I am not familiar) to change the IMEI & Serial numbers on blacklisted phones. This is what he claims, if he possible.

He is not too bright as he bought a bunch of blacklisted phones from auctions, unknowingly. He also continues to buy T-Mobile phones that end up getting blacklisted due to past due balances. Meaning, when we refurbish a phone the T-Mobile phone is in good standing on their IMEI check through the T-Mobile website but when the phone is sold & then activated it on a different account it gets put on a blacklist for an outstanding balance. For some reason only T-Mobile does this. They wait until the phone is re-activated to place it on a blacklist it.

Back to the point. How dumb is it, if he even accomplishes this task, to change IMEI & Serial numbers on blacklisted iphones then re-selling them?

I have not done research on this topic but from my own common sense I would say this is highly illegal & apple would jump at a lawsuit.

Thoughts? comments? Id love to hear any insight.