Tags in this story
Bitcoin hybrids, digital gift cards, false tax returns, identity theft, law enforcement, Microsoft, Microsoft engineers, money laundering, Tesla, US District Court, wire fraud
A US court in Seattle sentenced a former Microsoft engineer to 9 years in prison because he was sentenced to 18 federal felony counts for carefully orchestrated a plan to defraud the technology giant for a total of $10 million. In passing the judgment, the court condemned the Ukrainian citizen’s software engineer and Ukrainian citizen Volodymyr Kvashuk (Volodymyr Kvashuk) for trying to cover up digital evidence to help by using Bitcoin mixers and illegal use of compatriot accounts and passwords. The plan.
According to court records, Ukrainian citizen Kvashuk was found guilty of wire fraud, money laundering, identity theft and false tax returns in February 2020.
In response to the verdict, U.S. Attorney Brian T Moran paid tribute to “law enforcement partners and the U.S. Attorney’s Office,” saying that he had the upper hand in cases that “required sophisticated technical skills to investigate and prosecute.” Commenting on the severity of the punishment, the American lawyer said:
“Stealing with your employer is bad enough, but the theft and the blame on your colleagues seem to extend the damage beyond dollars and cents.”
According to documents submitted to the court, Kvashuk, who participated in the test of Microsoft’s online retail platform, was accused of “using the test access rights to steal “currency stored value” (CSV) such as digital gift cards.”
Using the proceeds from the gift card sales, Kvashuk “purchased a lake house worth $1.6 million and a Tesla car worth $160,000.” As the theft escalated, Kvashuk began “using test email accounts associated with other employees.” “To cover up your footprints. The document adds:
He used the Bitcoin “hybrid” service to try to hide the source of funds that eventually entered his bank account. During the seven months of Kvashuk’s illegal activities, a total of approximately $2.8 million in Bitcoin was transferred to his bank and investment accounts. Kvashuk subsequently submitted a false tax return claiming that Bitcoin was a gift from relatives.
At the same time, prosecutors criticized Kvashuk’s bra indecent behavior in the sentencing memo, which “put other Microsoft employees under suspicion.” They also accused Kvashuk of failing to bear responsibility after expressing “a series of cruel lies” in court. “Express any regret or regret for his crime.”
As part of the punishment, Kvashuk “was ordered to pay US$8,344,586 in damages” and he faces the possibility of “deported after his imprisonment”.
What is your opinion on Kvashuk’s conviction and sentencing? Share your views in the comments section below.
Picture Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for reference only. It is not a direct offer or solicitation of an offer, nor is it a recommendation or endorsement of any product, service or company. Bitcoin.com does not provide investment, tax, legal or accounting advice. For the use or reliance on any content, goods or services mentioned in this article or any loss or loss related to it, the company or the author shall not directly or indirectly bear any responsibility.