E46 BMW Social Directory E46 FAQ 3-Series Discussion Forums BMW Photo Gallery BMW 3-Series Technical Information E46 Fanatics - The Ultimate BMW Resource BMW Vendors General E46 Forum The Tire Rack's Tire Wheel Forum Forced Induction Forum The Off-Topic The E46 BMW Showroom For Sale, For Trade or Wanting to Buy

Welcome to the E46Fanatics forums. E46Fanatics is the premiere website for BMW 3 series owners around the world with interactive forums, a geographical enthusiast directory, photo galleries, and technical information for BMW enthusiasts.

You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today!

If you have any problems with the registration process or your account login, please contact contact us.

Go Back   E46Fanatics > Tuning & Tech > Motorsports & Track Forum

Motorsports & Track Forum
From Auto-X to Trackday to Racing and Professional Motorsports this is the place to discuss making BMWs fast

Thread Tools Search this Thread Rate Thread Display Modes
Old 02-04-2005, 07:35 PM   #1
Registered User
Join Date: Jul 2002
Location: Ladera Ranch CA
Posts: 263
My Ride: '02 M3 SMG; 03 996TT
Ultimate Rally is a SCAM

Read this:

Turns out this guy is a cyber terrorist. He's shut down several sites. Too bad he doesn't use his genius for good instead of evil.

I know there have been several posts about this, but this is by far the most conclusive information casting doubt as to the integrity of the series.


By John Leyden
Published Thursday 30th September 2004 08:54 GMT
Wannabe elite hacker-turned-convicted fraudster Kim 'Kimble' Schmitz has reinvented himself as the next Bernie Eccleston.

His front company, Kimvestor, is planning to organise the "Ultimate Rally". The seven day race over 3,000 miles (route unspecified) is scheduled to take place sometime in 2006 and offer a prize of $2m. It promises participants "one of your top ten lifetime experiences". But before would-be Petter Solbergs (reigning World Rally Champion) sign up it's worth reviewing Kimble's colourful history of business ventures.

Kimble/Schmitz shot to prominence in Germany in the late 1990s by presenting himself as an elite hacker. He spun a myth of his supposed pre-eminence in the computer underworld, using a little fact interlaced with a lot of juicy bits taken from media accounts and movies. An article mirrored by Attrition article exposes Kimble's self aggrandising personal mythology, recycled through numerous media interviews, of breaking into the systems of CitiBank, Nasa and the Pentagon as a sham.

After being convicted of relatively minor telecoms fraud offences in 1998 - and sentenced to two years on probation - Schmitz re-emerged as a security advisor and venture capitalist. His near brush with prison had given Schmitz an unquenchable thirst for publicity.

Readers may recall Schmitz offered a $10m reward for information leading to the capture of Osama bin Laden. Keeping his hand in and demonstrating the hacking skill with which he'd become legendary, Kimble founded hacker crew called YIHAT (Young Intelligent Hackers Against Terrorism), which claimed to have penetrated Osama bin Laden's bank accounts and to be close to tracking him down. These claims were never substantiated, but YIHAT's website was hacked by UK hacker Fluffi Bunny, to the amusement of much of the security community.

Around this time, Schmitz claimed his net worth was over $200m. Whatever the truth of these claims, he pursued a lifestyle of decadence and indulgence featuring fast cars, yachts, exotic trips and Playboy models until hdealings caught up with him.

In 2001 Schmitz offered to rescue online retailer Letsbuyit.com from collapse. This rescue mission was subsequently exposed as a sham. In May 2002, after being extradited from Thailand to Germany, he was convicted of stock price manipulation designed to net him 1.2m ($1.5m) and given a 20-month suspended prison sentence. Schmitz was also fined 100,000 by a Munich court after pleading guilty to insider trading of Letsbuyit.com shares.

Schmitz then moved to Hong Kong, where he set-up a hedge fund -cum -"Money Making Machine" called Trendax. Trendax says it uses artificial intelligence technology which automatically "selects the optimal combination of trading strategies for current market conditions". The bankruptcy last year of parent company Kimvestor left Trendax in limbo and must surely raise questions about the viability of the "Ultimate Rally". And that's just the beginning of Schmitz's problems. He faces Schmitz charges of embezzlement over a "loan" of 280,000, paid by his company Monkey to his venture fund Kimvestor.

Related stories
Kimble/ Schmitz charged with embezzlement
Hoaxster hacker discovers infinite-wealth algorithm
Kimble/Schmitz gets 20 months suspended sentence
Kimble/Schmitz deported
YIHAT founder Kimble/Schmitz arrested
bin Laden hackmeister flees Germany
Bin Laden hackers denounce founder
Bin Laden hack-meister in defacement, financial debacles
*********** offers $10m reward for arrest of bin Laden
Letsbuyit awakes from coma
Past adventures
2005 Mercedes SL600
2001 Lamborghini Diablo 6.0 VT
2004 Mercedes CLK500
2002 "UBER M3" candy blue, widebody
1994 Toyota Supra TWIN TURBO, 826 RWHP
2003 Porsche 996 Turbo
1998 Diablo SV
1999 Nissan Skyline GT-R
1994 Toyota Supra TT

Last edited by clieberman; 02-04-2005 at 07:50 PM.
clieberman is offline   Reply With Quote
Ads by Google

Guests, get your FREE E46Fanatics.com membership to remove this ad.
Old 02-05-2005, 06:38 PM   #2
Europrojektz Malaysia
Join Date: Jan 1970
Location: Los Angeles/Malaysia
Posts: 1,727
My Ride: E46/E92/RX8
Send a message via ICQ to Casanova Send a message via AIM to Casanova Send a message via MSN to Casanova
craziness, i got the ultimate rally invite in December!
thanks for the heads up. Route #3 on the Ultimate Rally woulda been awesome though, I think if the entrance was free I would have done it!
Drive Hard. Look Good. Be Loud. Get Some.

Director of Europrojektz Malaysia Chapter
Hamann GT-R Widebody | Modified AA-Tuning supercharger kit
My New Ride
Casanova is offline   Reply With Quote
Old 02-05-2005, 10:29 PM   #3
Join Date: Jan 1970
Location: Batcave
Posts: 2,113
My Ride: Batmobile
So smart yet so fuc king dumb.
ACS3 A.R.T is offline   Reply With Quote
Old 02-08-2005, 02:58 PM   #4
Registered User
Join Date: Jan 2005
Location: AZ
Posts: 23
My Ride: 01 Topaz 330ci
Yes, this guy is a complete tool. He got into the Pelican Parts BBS (Porsche forums) a while back and managed to spam all of the members and overload the servers for about a day.
freefly is offline   Reply With Quote
Old 02-08-2005, 07:37 PM   #5
The 330i
Registered User
Join Date: Feb 2004
Location: NYS
Posts: 373
My Ride: 330i
Hello Casanova,

Originally Posted by Casanova
craziness, i got the ultimate rally invite in December!
thanks for the heads up. Route #3 on the Ultimate Rally woulda been awesome though, I think if the entrance was free I would have done it!
If the Ultimate Rally was free, there would have been A LOT of people entering.

Try One Lap of America - that would be a new experience.

The 330i is offline   Reply With Quote

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Censor is ON

All times are GMT -5. The time now is 07:34 AM.

Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2017, vBulletin Solutions, Inc.
(c) 1999 - 2016 performanceIX Inc - privacy policy - terms of use