The Wierd and Wonderful World of the LetsBuyIt Savior

    Date01 Feb 2001
    CategoryHacks/Cracks
    3373
    Posted ByAnthony Pell
    The 27-year-old Mr Schmitz has emerged as the improbable white knight for the wobbly internet retailer LetsBuyIt.com, promising to invest up to pounds 30m in the loss-making venture. And on even the most cursory of glances, Mr Schmitz has a background . . . The 27-year-old Mr Schmitz has emerged as the improbable white knight for the wobbly internet retailer LetsBuyIt.com, promising to invest up to pounds 30m in the loss-making venture. And on even the most cursory of glances, Mr Schmitz has a background which makes Martha Lane Fox seem about as interesting as Ann Widdecombe.

    It has already been well-aired that the young German made his name in his homeland by hacking into the computer systems of the Pentagon, NASA and Citibank. After getting caught he decided that it was safer to be a gamekeeper than a poacher. He founded an internet protection agency and was employed by major corporations to test their systems and make them safe. From there he set up Kimvestor, an internet investment fund specializing in dot.com start-ups.

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