An individual stole $100M USD of Facebook and Google

This week a Lithuanian citizen pleaded guilty of having collaborated to implement a fraud scheme against Google and Facebook for over $100M USD, reported the International Institute of Cyber Security and experts of ethical hacking training in India.

Evaldas Rimasauskas, 50 years old, pleaded guilty of the charge of electronic fraud before a district judge in Manhattan, U.S. The defendant could face up to 30 years in prison, According to the reported news. Rimasauskas also agreed to forfeit nearly $50M USD obtained through this scheme of fraud.

The U.S. authorities accused Rimasauskas, and his unidentified accomplices, of defrauding Google and Facebook for more than $100M USD pretending to be an Asian hardware supplier. In this fraud scheme, the defendants claimed that both companies owed money to the alleged hardware vendor.

Although the U.S. authorities omitted the names of the involved companies, Quanta Computer, enterprise established in Taiwan, confirmed to be the company that the defendant was usurping. In addition, the authorities of Lithuania identified the companies mentioned as victims of fraud, mentioned the experts in ethical hacking training in India.

This is a sample of a very recently practiced type of fraud. In this, criminals seek to receive money from companies that work with suppliers abroad or make electronic transfers frequently.

According to the experts in ethical hacking training in India, this variant of electronic fraud has generated losses of more than 3 billion dollars to the companies involved since the year 2017, which began to practice relatively frequently. 

The defendant, who was living in the Lithuanian city of Vilnius, has already been extradited to the United States to be tried and sentenced. When questioned about the status of his client, Rimasauskas’s defense lawyer only commented:  “He has pleaded guilty, the confession speaks for itself”.