Two-Bit Developer Steals 10 Million Dollars from Microsoft
A former Microsoft software engineer, Volodymyr Kvashuk, has been sentenced to nine years in prison for stealing digital gift cards from the tech giant valued at more than 10 million dollars.
Kvashuk was able to mask the digital evidence by using a bitcoin mixing service before the funds were deposited into his accounts. He stole $12,000 in value using his own account access before switching to email accounts belonging to other Microsoft employees. This cast suspicion on several others, with Kvashuk claiming innocence and incriminating co-workers before a jury found him guilty of all counts.
In a seven-month period, 2.8 million in bitcoin was transferred to his bank and investment accounts, and on his tax return he claimed the bitcoin was a gift from a relative. Kvashuk used a portion of the stolen funds to purchase a lakefront home and a $160,000 Tesla.
He was ordered to pay $8,344,586 in restitution and may be deported to his native Ukraine after serving the prison term.
About the Author
Gregory McCauley Jr., Esq.
Tax Attorney · Villanova University School of Law · Admitted in Delaware, New Jersey, United States Tax Court
Gregory McCauley Jr. is an experienced tax attorney who has personally represented more than 1,000 clients in matters ranging from civil tax controversy and IRS examinations to criminal tax defense, U.S. Tax Court litigation, and complex business disputes. His practice is built on a foundation his c...
