A Lithuanian man named Evaldas Rimasauskas pleaded guilty last week to US wire fraud, aggravated identity theft, and money laundering charges. He admitted to stealing $99 million from Facebook, and $23 million from Google between 2013 and 2015.
But, wait. How exactly does someone steal $122 million from these two corporate giants?
Apparently, all you have to do is just send them fake invoices for items they didn’t purchase. The two companies paid his invoices, no questions asked.
Fraudulent Wire Transfer
They weren’t just simple invoices, though.
He sent “forged invoices, contracts, and letters that falsely appeared to have been executed and signed by executives and agents of the Victim Companies, and which bore false corporate stamps embossed with the Victim Companies’ names, to be submitted to banks in support of the large volume of funds that were fraudulently transmitted via wire transfer.”
That sounds a little more involved than just sending invoices, but I still can’t believe it worked. You mean to tell me that not a single person bothered to check whether the invoices were legit? They just kept sending him cash whenever he asked for it?
A Real Professional
Evaldas was apparently pretending to be a Taiwanese hardware manufacturer, Quanta Computer Inc., and had even registered a company in Latvia with the same name. Sounds like a real professional scam artist, if you ask me.
I heard he’s got a history of scamming cash out of Cyprus, Lithuania, Hungary, Slovakia, and Latvia previously.
He’s agreed to forfeit $50 million, but that leaves me wondering what he’s done with the remaining $72 million. That’s a lot of money to spend over a few years.
It Doesn’t Pay to Be Greedy
Perhaps he would have gotten away with it if he had been a little less greedy. Clearly, they didn’t notice the first $5 million he stole. I guess if a corporate giant is willing to shell out millions of dollars at the drop of a hat, it’s probably pretty hard to stop yourself from asking.
Evaldas is facing 30 years in prison and will be sentenced on July 29th.