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?
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