A Lithuanian scammer managed to defraud internet giants Facebook and Google of $100 million over a span of two years, according to an indictment by the US Department of Justice.
Evaldas Rimasauskas was arrested in March by authorities in Lithuania and was charged with orchestrating a fraudulent business email compromise scheme that induced two US-based internet companies to wire a total of over $100 million to his bank accounts.
Names of the two tech companies remained anonymous throughout the case. However, an investigation by Fortune which involved interviews with sources close to law enforcement and other figures found Facebook and Google to be among the three companies targeted in the massive scam.
The tech giants were apparently tricked into wiring the amount to two bank accounts in Latvia and Cyprus. Once transferred, the stolen money was routed quickly through different bank accounts in various locations throughout the world, including Latvia, Cyprus, Slovakia, Lithuania, Hungary and Hong Kong.
Rimasauskas was charged with one count of wire fraud and three counts of money laundering and faces a maximum sentence of 20 years in prison for each count. The scammer has also been charged with one count of aggravated identity theft which carries a mandatory minimum sentence of two years in prison.
The scam highlights how phishing techniques by cyber criminals have evolved to become convincing enough and trick even the most sophisticated tech companies in the world.
“This case should serve as a wake-up call to all companies – even the most sophisticated – that they too can be victims of phishing attacks by cyber criminals,” said acting US Attorney Joon H Kim during the hearing of the case.
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