$100M Email Scam Unfolds in Lithuania

Evaldas Rimasauskas, a Lithuanian man, has been arrested and charged with orchestrating a fraudulent business email compromise scheme that induced two US-based internet companies to wire over $100 million to bank accounts controlled by Rimasauskas.

According to the allegations contained in the Indictment unsealed today, Rimasauskas registered and incorporated a company in Latvia, which bore the same name as an Asian-based computer hardware manufacturer, and opened, maintained, and controlled various accounts at banks located in Latvia and Cyprus in the name of the company.

Rimasauskas then sent fraudulent phishing emails to employees and agents of the Victim Companies, directing them to wire money owed to the Asian-based company to the company’s bank accounts in Latvia and Cyprus, which were controlled by Rimasauskas.

The scheme succeeded in deceiving the Victim Companies into complying with the fraudulent wiring instructions, with Rimasauskas causing the stolen funds to be quickly wired into different bank accounts worldwide.

Acting U.S. Attorney Joon H. Kim said, ‘From half a world away, Evaldas Rimasauskas allegedly targeted multinational internet companies and tricked their agents and employees into wiring over $100 million to overseas bank accounts under his control. 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.’

FBI Assistant Director William F. Sweeney Jr. added, ‘As alleged, Evaldas Rimasauskas carried out a business email compromise scheme creatively targeting two very specific victim companies. He was initially successful, acquiring over $100 million in proceeds that he wired to various bank accounts worldwide.’

The case has been assigned to U.S. District Judge George B. Daniels, and Rimasauskas was arrested late last week by authorities in Lithuania on the basis of a provisional arrest warrant.