The 6 year old case of playing doctor is not rmeotely comparable to this repeat criminal who was/is well old enough to know what he has been doing.

 

"As a teenager, Schmitz earned a reputation in his native Germany for cracking corporate PBX systems in the United States, and tried to parlay it into a career in data security.That effort led to his arrest on charges of using and selling stolen calling card numbers.

 

According to a report by News & Record, he had traded stolen calling card numbers he bought from hackers in the United States.

 

n 2001, Schmitz purchased $375,000 worth of shares of the nearly bankrupt company LetsBuyIt.com and subsequently announced his intention to invest €50 million in the company. Unknown to others, Schmitz did not have the funds available to invest, although the announcement caused the share value of LetsBuyIt.com to jump by nearly 300%. Schmitz quickly sold the shares and profited $1.5 million as a result. Schmitz had also arranged and obtained an unsecured loan of €280,000 from Monkey AG, a company for which Schmitz had served as Chairman of the Board. The funds were to be paid to Kimvestor AG. As a result, both Monkey and Kimvestor went bankrupt.

 

Schmitz also pleaded guilty to embezzlement in November 2003 and received a two-year probation sentence.

 

 

 

An investigative piece found Schmitz in Hong Kong business records with the new name "Kim Tim Jim Vestor", allegedly bearing a Finnish passport, and acting as director of several "Mega-" companies, among them Megaupload Ltd. and Megarotic Ltd."