US charges man with US$100m email fraud

NEW YORK: US prosecutors have charged a Lithuanian man with engaging in an email fraud scheme in which he bilked two US-based companies out of more than US$100 million by posing as an Asian hardware vendor.

Evaldas Rimasauskas, 48, was arrested late last week by Lithuanian authorities, Manhattan federal prosecutors said Tuesday.

Rimasauskas does not yet have legal counsel, a spokesman for the prosecutors said.

The alleged scheme is an example of a growing type of fraud called ‘ business email compromise,’ in which fraudsters ask for money using emails targeted at companies that work with foreign suppliers or regularly make wire transfers. — Reuters