Investment scams cost Lithuanians over 50,000 euros

Two people in Lithuania have fallen victim to sophisticated investment scams, collectively losing more than 50,000 euros. The incidents, reported on July 17, highlight the persistent threat of financial fraud targeting unsuspecting individuals.

In Kaunas, a woman born in 1966 reported losing 28,750 euros. She was contacted on June 10 via the Telegram messaging app by an individual posing as an investment consultant who communicated in Russian. Through deceptive means, the fraudster convinced her to transfer the substantial sum.

Similarly, a man born in 1965 reported a loss of 21,920 euros from the Vilnius region. Between December 12, 2025, and July 15 of this year, he received a phone call from an unknown person, also speaking Russian, who claimed to be an investment manager. This individual also employed fraudulent tactics to extract funds.

Pre-trial investigations have been initiated under Article 182, Part 2 of the Lithuanian Criminal Code, which pertains to fraud. This section of the law addresses individuals who unlawfully acquire significant property or property rights through deceit, or who evade significant financial obligations, facing penalties that can include fines, restrictions on liberty, arrest, or imprisonment for up to six years.