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Volodymyr Kvashuk, a former Microsoft software engineer from Ukraine, is sentenced to nine years in prison for stealing more than $ 10 million over two years.
Kvashuk used Microsoft Store test accounts while on the company’s global store team to steal $ 10 million in CSV currency stored in Microsoft’s online store through unauthorized product purchases .
Microsoft’s anti-fraud team, FIST, discovered its plan in February 2018, after noting a suspicious increase in Xbox Live subscriptions purchased with stored value currency, including gift cards.
The stored-value currency was stolen between August 26, 2016 and June 22, 2018, when it was laid off, and then resold at a discount in online marketplaces through at least two retailers, nokeys.com and g2a.com.
These third parties were then able to recover the stored value and purchase digital and physical goods from Microsoft.
The software giant was only able to include around $ 1.8 million of the precious stored currency in the blacklist to recover after selling Kvashok to its customers, which is a total financial loss of around 8.3. millions of dollars.
Kvashuk then used the services of chipmixer.com to hide the origin of the money he got after selling the stolen stored value, as well as buying Bitcoin with Xbox gift cards through the crypto exchange. – Paxful currency.
Kvashuk was able to transfer nearly $ 2.8 million worth of Bitcoin into his investment and bank accounts, and the funds were later disguised as gifts from loved ones in fraudulent income tax forms.
In March 2018, Kvachuk bought a Tesla for around $ 162,000, while in June 2018 he paid around $ 1.675 million for a house.
After initially using his demo account to acquire valuable illegally stored currencies, Kvachuk turned to the accounts some of his colleagues set up to hide his tracks and direct future investigations to the wrong people.
A press release issued by the Justice Department states: Kvachuk initially stole small sums, totaling around $ 12,000, using access to his own account.
With the stolen value reaching millions of dollars, Kvashok used experimental email accounts linked to other employees, the statement added.
Prosecutors said: Kvashuk’s ploy included lies and deception at every step, and he compromised his colleagues by using their demo accounts to steal the valuable stored currency.
In addition to having to spend nine years in jail for 18 separate federal crimes related to his fraudulent scheme and his obligation to pay $ 8.3 million in damages, Kvashok may also be deported after his prison term.
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