Thomas Wagner, founder of Germany’s largest package tourism company, was conned out of 1.5 million euros (approximately $1.7 million USD) earlier this summer after flying to Venice to meet with a potential new “investor.” This investor turned out to be a very clever crook.
Wagner’s holding company, Unister, along with many of its subsidiaries is now insolvent, and the CEO is facing dire financial straits, reported Tnooz earlier this week.
German police have arrested one unidentified suspect in the case, but the larger question remains: why Wagner, an experienced businessman, fall for such a scam?
Here’s our recent roundup of related links and Travel Business News:
The Rise and Fall of a German Travel CEO, Financial Times
TSA Agents Spread Panic in False Bomb Scare, View from the Wing
Can You Share Your Miles? These Airlines Make It Easy, New York Times
Most Outrageous, Unreal Airline Fees, ABC News
8 “Gotcha” Travel Fees and How to Avoid Them, USA Today
Enough With the Crazy Change Fees, The New Yorker
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