# Financial fraud and subsidy exploitation in Lithuania > Live situation record from CLSTR: https://clstr.news/situations/financial-fraud-and-subsidy-exploitation-in-lithuania > Updated: 2026-08-31T19:58:12.000Z. Sources: 4. Developments: 2. Lithuania has faced various forms of financial deception, ranging from individual investment scams to large-scale institutional fraud. Early reports highlighted a rise in investment fraud targeting citizens, such as a case in Kaunas where an individual lost nearly 20,000 euros to a fraudulent online platform. This trend was linked to broader economic disparities and the concentration of wealth. Subsequently, a major investigation by the European Public Prosecutor’s Office, known as ‘Operation Precision’, uncovered a sophisticated scheme involving European Union subsidies. Two Belarusian nationals were convicted of fraud after using a Lithuanian-based company to secure approximately 745,453 euros intended for high-precision satellite navigation technology. The defendants had restructured the company’s ownership to mask ties to Russian and Belarusian military industries, thereby bypassing EU sanctions. The individuals pleaded guilty to fraud and forgery, returning 447,272 euros to the European Union. ## Timeline ### 2026-08-31: Lithuania fraud case exposes EU funding vulnerabilities Two Belarusian nationals were convicted in Lithuania for defrauding the EU of satellite technology funds by concealing ties to sanctioned Russian and Belarusian military industries. 2 sources. https://clstr.news/cluster/lithuania-fraud-case-exposes-eu-funding-vulnerabilities ### 2026-08-27: Economic disparity and rising investment fraud in Lithuania While stock markets reach record highs, many face economic hardship. Meanwhile, investment scams are rising, with recent fraud in Kaunas costing a victim nearly 20,000 euros. 2 sources. https://clstr.news/cluster/economic-disparity-and-rising-investment-fraud-in-lithuania --- Cite as: Financial fraud and subsidy exploitation in Lithuania. CLSTR, https://clstr.news/situations/financial-fraud-and-subsidy-exploitation-in-lithuania