Volodymyr Kvashuk, a 25-year-old Ukrainian man, faces up to 20 years in prison on 18 counts, including wire fraud and money laundering, by a Seattle District Court on charges of embezzling $10 million worth of cryptocurrencies from Microsoft.
Photo by Volodymyr Kvashuk’s LinkedIn
Volodymyr Kvashuk, a Ukrainian citizen who lives in the town of Renton, Washington, worked at Microsoft from 2016 to 2018. During his time at Microsoft, Kvashuk was involved in the development and testing of the company’s online retail platform. He then stole $12,000 from his account using digital gift cards and created a test account on behalf of a colleague, embezzling millions of dollars from Microsoft. After receiving the money, he made money laundering, first turning it into bitcoins and then converting them into money into his bank account.
Kvashuk used the money to start his own luxury lifestyle. He bought a Tesla worth $160,000 and a $1.6 million lakeside home. Kvashuk transferred a total of $2.8 million in bitcoins to his account and declared them gifts from the IRS. Microsoft discovered the program in 2018 and was fired from the company after that.
Volodymyr Kvashuk’s lakeside home for $1.6 million Picture from King County
During the five-day trial, the U.S. District Court found him guilty of five counts of wire fraud, six counts of money laundering, two counts of aggravated identity theft, two counts of false tax returns and one count of mail fraud, bank card fraud and 18 felonies for using company computers for illegal purposes, and sentenced him to 20 years in prison.
But Kvashuk, who pleaded not guilty, told the court he “did not intend to deceive Microsoft” and that “he is working on a special project to benefit the company.” Detective Inspector Ryan Korner said: “Criminals believe they can avoid detection by using cryptocurrencies and mixing complex money laundering ,…… But they will be arrested and held accountable. “