|Evaldas Rimasauskas pleaded guilty to wire fraud charges on Wednesday for his part in orchestrating a scheme to swindle Google and Facebook out of more than $100 million. latest news headlines for today|
In an indictment unsealed by the U.S. Attorney for the Southern District of New York last week, the Department of Justice alleged that Evaldas Rimasauskas and other unnamed co-conspirators impersonated the Taiwan-based hardware manufacturer, Quanta Computer — with which both tech companies do business — by setting up a company in Latvia with the same name. Using myriad forged invoices, contracts, letters, corporate stamps, and general confusion created by the corporate doppelganger, they successfully bamboozled Google and Facebook into paying tens of million of dollars in fraudulent bills from 2013 to 2015.
The payments were wired to bank accounts controlled by Rimasauskas, which he subsequently laundered through several other bank accounts throughout Latvia, Cyprus, Slovakia, Lithuania, Hungary and Hong Kong.
The 50-year-old, who was extradited to New York in 2017, pleaded guilty to one count of wire fraud on Wednesday and agreed to forfeit $49.7 million. He could face up to 30 years in prison when he is sentenced on July 24.