Kimble 'hacker' fined €100,000

Self-proclaimed uber hacker Kim 'Kimble' Schmitz was yesterday convicted of insider trading and sentenced to 20 months probation and a €100,000 fine.

Schmitz, who was arrested by authorities while on the run in Thailand in January, had been deported to Germany to face the music over stock manipulation charges.

The 28 year-old 'convicted hacker' was found guilty of insider trading of LetsBuyIt.com shares, a ruse designed to net him €1.1m.

In a publicity move, which soon became a trademark of the hacker-entrepreneur, Schmitz appeared to bail the floundering website out of its debt, sending the company's shares rocketing by 150 per cent.

But one day later Schmitz sold his shares at a huge profit. Today, LetsBuyIt.com shares are practically worthless.

Schmitz's hacker antics were then discovered to be largely fabrications pulled from Hollywood movies.

He started up an anti-terrorist hacker group known as Young Intelligent Hackers Against Terror, which claimed to have intercepted Osama bin Laden's accounts. And he played out a playboy lifestyle to promote his Kimvestor investment fund.

He is also no stranger to the judicial system. Prior to this week's conviction, Schmitz was already on a two-year probation charge for fraud and 14 counts of driving without a licence.