YIHAT founder Kimble/Schmitz arrested

In the movies, whenever a protagonist gets away with a big heist, we invariably see him passing safely through customs in the Caribbean or southeast Asia as the credits begin to roll.

Perhaps this hackneyed Hollywood device was on Kim Schmitz's mind when he chose Thailand as his hideout from German authorities curious about his KimVestor Ponzi scheme.

Yesterday, Thai police arrested Schmitz in Bangkok, acting on a German warrant charging him with securities fraud, Der Spiegel reports.

Schmitz is accused of using insider knowledge to buy shares worth approximately $375,000 and quickly turn them around for $1.5 million.

We may remember Schmitz, aka Kimble, as the founder of YIHAT (Young Intelligent Hackers Against Terrorism), an elite crew of IRC kiddies determined to use their mad skillz to track down international terrorist Osama bin Laden. Schmitz has also claimed to be a master hacker himself, in addition to being a financial wizard.

US Defence Secretary Donald Rumsfeld has thus far neglected to return our phone inquiry asking if the hunt for bin Laden will now have to be called off. ®

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