Man admits to conning Facebook and Google out of $122 million

[midian182]

Why it matters: Even the biggest tech companies in the world aren’t safe from scammers, just ask Evaldas Rimasauskas. The 50-year-old Lithuanian man has pleaded guilty to his role in stealing $122 million from Facebook and Google using a phishing scheme.

According to prosecutors, Rimasauskas and his conspirators sent emails to the two firms between 2013 and 2015, in which they claimed to be real Taiwanese laptop maker Quanta Computer.

The emails were designed to look like they originated from Quanta executives. They asked that payments for services carried out by the real Quanta be sent to bank accounts—which Rimasauskas­ operated—based in Latvia, Cyprus, Slovakia, Lithuania, Hungary, and Hong Kong. He also forged contracts and documents to make them look like they were signed by Google and Facebook executives. These were handed over to the banks to support the wire transfers.

Rimasauskas­ founded a company called Quanta Computer in Latvia to make the emails appear more convincing. The plan worked: Google handed over $23 million, while Facebook was conned out of $99 million. Rimasauskas­ was extradited to the US in August 2017.

“Rimasauskas thought he could hide behind a computer screen halfway across the world while he conducted his fraudulent scheme, but as he has learned, the arms of American justice are long, and he now faces significant time in a U.S. prison,” U.S. Attorney Geoffrey Berman in Manhattan said in a statement.

Rimasauskas­ pleaded guilty to one charge of wire fraud in a New York court last week. As part of his plea, he has agreed to return just under $50 million. It’s not known what happened to the rest of the stolen money. He faces up to 30 years in prison when sentenced on July 24, 2019.

A Facebook spokesman said: “Facebook recovered the bulk of the funds shortly after the incident and has been co-operating with law enforcement in its investigation.” Google gave a similar statement: “We detected this fraud and promptly alerted the authorities. We recouped the funds, and we’re pleased this matter is resolved.”

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https://www.techspot.com/news/79341-man-admits-conning-facebook-google-out-122-million.html

 

[Uncle Al]

If they treat him like any other white collar crime he may only get a few years. If our lawmakers would take this seriously they would make it a mandatory life sentence w/o parole any time one person took another's money is this same manner or through any other intentional act of deception; especially when they prey upon the old, retired, with a fixed income ......

 

[QuantumPhysics]

How much did the bankers and the government enablers get for conning American homeowners out of Trillions and running up a $22,000,000,000,000 national debt to the tax payer.

China EXECUTES for embezzelment.

 

[havok585]

If they treat him like any other white collar crime he may only get a few years. If our lawmakers would take this seriously they would make it a mandatory life sentence w/o parole any time one person took another's money is this same manner or through any other intentional act of deception; especially when they prey upon the old, retired, with a fixed income ......

Oh please, the guy conned 2 giants that make money selling your personal data.
In fact the guy should get a medal

 

[OutlawCecil]

Lesson learned? When you successfully steal $122 million dollars, stop there. Take the money and run.

 

[MilwaukeeMike]

If they treat him like any other white collar crime he may only get a few years. If our lawmakers would take this seriously they would make it a mandatory life sentence w/o parole any time one person took another's money is this same manner or through any other intentional act of deception; especially when they prey upon the old, retired, with a fixed income ......

He's 50 years old.... if he gets 20 years, it'll be enough to waste the rest of his valuable life.

 

[Nobina]

Couldn't he go to China or something? Gotta say it's impressive how he made Google and Facebook look like some grandma on the internet getting scammed.

 

[Evernessince]

How much did the bankers and the government enablers get for conning Americvan homeowners out of Trillions and running up a $22,000,000,000,000 national debt to the tax payer.

China EXECUTES for embezzelment.

Aside from piles of money? A position in the US cabinet. Steven Mnuchin isn't known as the foreclosure king for nothing.

 

[PEnnn]

Anybody who makes Facebook look like a bumbling imbecile, is a hero in my book.

 

[Xantia]

Though this is a crime, I somewhat feel a certain relief this macro gigantic corporations can still de scammed as any regular person.

 

[toooooot]

Smart man. I know what happened to the rest of money. A smart man knows how to party.

 

[VBKing]

If the man agreed to return about $50 million, then Google and / or Facebook are LYING when they imply they recovered most of the money soon after the fraud occurred 4 and 6 years ago.

Google said that they "recouped the funds" (implying they got all their $23 million back fairly quickly, not after the trial / plea deal) and Facebook said they "recovered the bulk of the funds shortly after the incident".

So if MOST of the $122 million was recovered quickly, then how did the guy still have $50 million to return years later?