Evaldas Rimasauskas, from Lithuania, sent fraudulent demands for money to Google and Facebook between 2013 and 2015 totalling $122 million.
The companies paid the bills, after seemingly not checking if the invoices corresponded with their own records.
The 50-year-old pleaded guilty to one count of wire fraud in New York on Monday. He faces a maximum sentence of 30 years in prison at his sentencing, currently scheduled for 24 July.
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