Monday, May 27, 2024

Former Microsoft Employee Pleads Guilty for Stealing More Than $10 Million Worth Company Digital Asset

Recently, a former employee of the tech giant Microsoft, Volodymyr Kvashuk, who worked at Microsoft from August 2016 to June 2018, was convicted in U.S. District Court in Seattle for stealing 10 million dollars in digital currency from the Microsoft.

Basically, the court found that the former employee of the tech giant Microsoft, Volodymyr Kvashuk stole “currency stored value,” like gift cards. 

After that later Volodymyr Kvashuk simply resold the value on the internet for bitcoins, and simply used that money to buy a lakefront house of $1.6 million dollars, and a Tesla Model X for $160,000. 

However, later in June 2018, after seeing the dramatic positive increase in his lifestyle, the tech giant Microsoft simply decided to fire Volodymyr Kvashuk.

Here’s what a Microsoft spokesman said in a statement “When we learned of this misconduct, we simply investigated the matter, and then we terminated his employment and then reported the matter to the police. Later, the United States Department of Justice simply conducted its own investigation and prosecution, which resulted in a guilty verdict.”

FAILED Master Stroke Of Volodymyr Kvashuk

Basically, Volodymyr Kvashuk received about 2.8 million dollars in bitcoins over a period of seven months. Then he intentionally hid how much money went into his accounts simply by using bitcoin “mixing” service, and it’s a service that secures and protects all your transactions so that they cannot be tracked. 

According to the DOJ report, by that time phase, Volodymyr Kvashuk always said that bitcoin was a gift from his family, while he filed his tax returns. However, the fact is that Volodymyr Kvashuk was then immediately fired by Microsoft in June 2018 after Microsoft discovered his thefts and forgeries. 

Later, Volodymyr Kvashuk was arrested and charged with postal fraud in July and has now been convicted of other 18 federal crimes, which includes five charges of electronic fraud, six money laundering charges, two counts of aggravated identity theft, two charges for filing false tax returns, one charge for postal fraud, one for the fraud with access devices and the last one for access to a protected computer to promote fraud.

Moreover, Security specialists already stated that Volodymyr Kvashuk’s fraudulent scheme was discovered and already demolished by the IRS-CI Cyber ​​Crimes Unit. Later, Volodymyr Kvashuk was arrested and prosecuted, after that judging for more than five hours, the jury and judge finally found him guilty and sentenced him 20 years of imprisonment.

So, what do you think about this? Simply share all your views and thoughts in the comment section below.


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