As Vladislav Klyushin’s cybersecurity scam grew, raking in over $93 million in less than three years, the FBI’s investigation got closer to uncovering his plot.
Klyushin had become incredibly wealthy through his ownership of the Moscow-based cybersecurity firm M-13. Behind this company, he hid his real business: stealing earnings reports from companies before they were published and trading on the basis of this information. The cybersecurity scam targeted well-known American companies such as Skechers, Snapchat and Roku.
The FBI and US prosecutors had enough evidence to put him behind bars – but there was also a major obstacle: As a Russian citizen living in Russia, there was no chance that the country would extradite him. Legally, the oligarch was simply unreachable.
Vladislav Klyushin, owner of an IT company with ties to the Russian government, is seen in an undated photo attached to a U.S. Department of Justice document.
US Department of Justice | Via Reuters
CNBC’s new original podcast series, “The Crimes of Putin’s Trader,” takes you on the mission to put Klyushin behind bars. CNBC’s chief Washington correspondent Eamon Javers spoke with FBI agents, prosecutors – and even a Russian spy – to uncover the shocking details of this vast criminal enterprise and the larger threat to U.S. companies, investors and the markets.
The third episode of the podcast details how Klyushin made a serious mistake that finally gave U.S. law enforcement the opportunity to intervene.
Klyushin had spent his illegal profits on a lavish lifestyle, sparing no expense: buying fancy sports cars, a luxury apartment for his accomplice, and a yacht worth nearly $4 million. As he grew richer, Klyushin wanted more – and what ultimately got him into trouble was his love of travel.
“When you have that much money that you’ve made in such a short period of time, I think you get reckless and you want to spend it properly and enjoy your life,” U.S. Attorney Steven Frank told Javers. “You want to enjoy the fruits of your criminal activities.”
In March 2021, investigators discovered that Klyushin had chartered a private jet to fly from Moscow to Switzerland, where a helicopter was waiting to take him directly to the slopes to ski. U.S. authorities worked with Swiss federal police on a plan to intercept him upon his arrival.
The latest episode of the original podcast series takes listeners through the plot – up to the moment when Klyushin steps off the plane in Switzerland, completely unaware of his catastrophic mistake.
“It’s a breathless moment,” Frank said. “You’re literally holding your breath to see how this is going to turn out and if we can finally catch him.”
Listen now to “The Crimes of Putin’s Merchant.”
