The mistake that put Russian hacker Vladislav Klyushin behind bars

As Vladislav Klyushin’s cybersecurity scam grew, collecting more than $93 million in less than three years, the FBI’s investigation was closing in on unraveling his scheme.

Klyushin had become incredibly rich through his ownership of Moscow-based cybersecurity firm M-13, which was a front for his real business: stealing corporate earnings reports before they were released and trading based on that information. The cybersecurity scam targeted well-known American companies like Skechers, Snapchat and Roku.

The FBI and U.S. prosecutors had enough evidence to put him away – but they also had one significant roadblock: as a Russian citizen living in Russia, there was no chance the country would extradite him. Legally, the oligarch was just out of reach. 

CNBC’s new original podcast series “The Crimes of Putin’s Trader” takes you inside the mission to put Klyushin behind bars. CNBC Senior Washington Correspondent Eamon Javers spoke with FBI agents, prosecutors — and even a Russian spy — to reveal the shocking details of this massive criminal enterprise, and the larger threat posed to U.S companies, investors and the markets.

The third episode of the podcast details how Klyushin made a critical mistake, finally opening the door for U.S. law enforcement to step in.

Klyushin had been spending his illegal gains to support a lavish lifestyle, sparing no expense: buying fancy sports cars, a luxury apartment for his partner in crime and a yacht worth nearly $4 million. As he became more wealthy, Klyushin wanted more – and what ultimately got him in trouble was his desire to travel.

“When you have that kind of money that you’ve made in a short period of time, I think you get reckless and you know you want to spend it right, and you want to enjoy your life,” U.S. federal prosecutor Steven Frank told Javers. “You want to enjoy the fruits of your criminal activity.”

In March 2021, investigators discovered that Klyushin had chartered a private jet to fly from Moscow to Switzerland. From there, a helicopter was waiting to take him directly to the slopes to ski. U.S. authorities worked with the Swiss Federal Police on a plan to intercept him when he arrived.

The latest episode of the original podcast series takes listeners through the action – right up to 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 play out and whether we’re ultimately going to be able to grab him.”