In February, 26-year-old Ukrainian citizen Volodymyr Kvashuk was convicted in the U.S. District Court in Seattle, Washington for 18 federal felonies related to his scheme to defraud Microsoft of more than $10 million using gift cards. Kvashuk was convicted of five counts of wire fraud, six counts of money laundering and two counts of aggravated identity theft by a Jury in an elaborate gift card scam. On Monday, the former Microsoft software engineer received 9-year prison sentence for his gift card scheme, concluding a 16-month trial. What initially started as a small sum of $12,000 in gift cards using his own email accounts, he eventually moved email accounts belonging to other Microsoft employees in order to decentralize the scheme. Kvashuk had unique access to an online retail sales platform for Microsoft from August 2016 until he was fired in June 2018. He had used his employee access to steal an electronic CSV of namely digital gift cards and other gift certificates and sold them predominately on Paxful (before KYC was required). He used the bitcoin proceeds to fund a lavish lifestyle including a $1.6 million lakefront home and a $160,000 Tesla. Over a period of seven months, Kvashuk’s illegal activity saw a total of $2.8 million in bitcoin transferred from bitcoin mixers to his bank and investment accounts. He then filed fake tax return forms claiming the bitcoin had been a gift from a relative, says IRS court records. “Today's sentencing proves you cannot steal money [online] and think that bitcoin is going to hide your criminal behaviors,” said IRS special agent Ryan Korner to CoinDesk.