Corrupt Microsoft Employee Sold Over $10 Million In Gift Cards For Bitcoin...

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 Microsoft bitcoin

A former Microsoft developer identified as 26-year-old Volodymyr Kvashuk was sentenced yesterday after defrauding more than $10 million from the company. 

Kvashuk worked first as a contractor and then was hired as an employee between 2016 and 2018.

The engineer was involved in one of Microsoft's online retail sales platforms that use gift cards, according to the DOJ.

With the access to create these gift cards, he would make and then resell them online exchange for Bitcoin. During the early days of the scam he was so confident that no one was watching, he even used his own email account for his first $12,000 sold.

But he wanted more, and eventually began to use accounts of co-workers to hide his actions, essentially framing them for his crimes.

With the money, he bought a home valued at $ 1.6 million and a Tesla, explaining it by telling people, and putting on his taxes, that he had received a 'gift' from relatives. 

Yet Another Case To Disprove The Myth That Bitcoin Is "Anonymous"...

After receiving the Bitcoin he attempted to hide the origins by using cryptocurrency mixing services before withdrawing to his bank and investment accounts. But that wasn't enough to stop officials from following the funds.

He plead guilty to five counts of wire fraud, six counts of money laundering, two counts of aggravated identity theft, two counts of filing false tax returns, mail fraud, device access fraud, and trespassing. computer protected in the promotion of fraud.

He was sentenced to 9 years in prison, and was ordered to repay Microsoft $8.3 million dollars.

Author: Justin Derbek
New York News Desk
Breaking Crypto News

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