SEATTLE (AP) — A jury on Tuesday convicted a former Microsoft worker of wire fraud and other charges in what prosecutors described as a scheme to steal $10 million in digital currency.
The U.S. Attorney’s Office in Seattle said 25-year-old Ukrainian citizen Volodymyr Kvashuk helped test Microsoft’s online retail sales platform.
He was accused of stealing digital currency such as gift cards that could be redeemed for Microsoft products, then reselling them on the internet and using the proceeds to buy a $160,000 Tesla vehicle and a $1.7 million lakefront home.
He was fired in June 2018 after the scheme came to light. Prosecutors said that during the seven months of his activity, $2.8 million in bitcoin was transferred into his bank accounts.
Following a five-day trial in federal court, Kvashuk was convicted of wire fraud, money laundering and aggravated identity theft, among other offenses.
He faces up to 20 years in prison when he is sentenced by U.S. District Judge James L. Robart in June.
Before you consider Microsoft, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Microsoft wasn't on the list.
While Microsoft currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
