Former Microsoft engineer sentenced to 9 years in jail after utilizing digital foreign money scheme to purchase $ 1.6 million on the lake and $ 160,000 Tesla automotive, Tech Information

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A former Microsoft engineer was sentenced to 9 years in jail for 18 federal crimes after stealing greater than $ 10 million price of digital foreign money from his ex-employer and utilizing the cash to fund purchases, together with a lakeside home $ 1.6 million and a Tesla automotive valued at $ 160,000.

Based on an announcement by the US Division of Justice (DOJ), Volodymyr Kvashuk, a 26-year-old software program developer, a Ukrainian citizen residing in Renton, Washington, began working as a contractor at Microsoft from August 2016 after which as an worker till he was fired in June 2018. Kvashuk stole “foreign money saved worth” like Microsoft present playing cards after which resold them on-line.

In February 2020, KVASHUK was convicted by a jury of 5 circumstances of cable fraud, six circumstances of cash laundering, two circumstances of aggravated id theft, two circumstances of false tax return and one case every of electronic mail fraud, fraud with entry units. and entry to a protected laptop to encourage fraud. At his listening to, US District Decide James L. Robart stated KVASHUK “has no respect for the legislation”.

“Stealing out of your employer is unhealthy sufficient, however stealing and making it seem that your coworkers are accountable will increase the harm past {dollars} and cents,” stated US legal professional Moran. “This case required refined technological expertise to provoke investigations and legislation enforcement, and I’m happy that our legislation enforcement companions and the US legal professional basic have the talents to carry such criminals to justice.”

Based on data filed within the case and statements made in court docket, KVASHUK was concerned in testing Microsoft’s on-line retail gross sales platform and utilizing this check entry to steal Forex Storage Worth (CSV) like digital present playing cards . KVASHUK resold the worth on-line and used the proceeds to buy a lakefront dwelling valued at $ 1.6 million and a Tesla automobile valued at $ 160,000. Initially, KVASHUK stole small quantities totaling round $ 12,000 by its personal account entry. Because the thefts escalated to hundreds of thousands of {dollars} in worth, KVASHUK used check electronic mail accounts related to different workers. KVASHUK, a educated software program developer, tried to masks digital proof that may attribute the fraud and web gross sales to him. He used a bitcoin mixing service to cover the supply of the funds that had been in the end transferred to his checking account. In complete, round $ 2.Eight million in Bitcoin had been transferred to its financial institution and funding accounts within the seven months of KVASHUK’s unlawful actions. KVASHUK then submitted pretend tax return varieties, claiming the bitcoin was a present from a relative.

Of their verdict, prosecutors discovered that KVASHUK’s program suspected different Microsoft workers. “Kvashuk used the proceeds to guide the lifetime of a millionaire who drove a $ 160,000 automotive and lived in a $ 1.6 million waterfront dwelling. Kvashuk’s plan concerned lies and deception at each step. He put his colleagues within the line of fireplace by utilizing their check accounts to steal CSV. As an alternative of taking accountability, he testified and instructed a sequence of outrageous lies. There isn’t a proof that Kvashuk feels regret or remorse for his crimes, ”the prosecutor wrote to the court docket.

KVASHUK testified in court docket that it had no intention of defrauding Microsoft. He claimed he was engaged on a selected mission that may profit the corporate. The jury deliberated about 5 hours after a five-day trial earlier than returning the convictions.

“The Volodymyr Kvashuk trial was an enormous success for IRS-CI and the federal cybercrime crew. Kvashuk’s felony acts of stealing Microsoft after which submitting false tax returns are the primary Bitcoin case within the nation that incorporates a tax part, ”stated Ryan L. Korner, the accountable IRS CI particular agent. “Merely put, at the moment’s conviction proves that you simply can’t steal cash over the Web and consider that Bitcoin will disguise your felony conduct. Our advanced crew of cybercrime specialists, with the help of the Cyber ​​Crimes Unit of IRS-CI, will observe you down and maintain you accountable on your misconduct. “

KVASHUK was fined $ 8,344,586 in restitution. He might be deported after his sentence. The case has been investigated by the Inside Income Service felony investigation division, the Western Cyber ​​Crimes Unit and the US Secret Service.



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