Ex Lehman Banker Giving away a Fortune on the Internet

Share Article

It has been a year since he walked out of the Lehman building because one of the largest US investment banks went bust. The ex-investment banker, who brokered billion dollar deals at Lehman Brothers, has since then been giving away his fortune on the internet on http://www.psychoAuction.com

Nicolas is a lovely guy but he's really had a meltdown with this psycho auction site.

It has been a year since he walked out of the Lehman building because one of the largest US investment banks went bust. The ex-investment banker, who brokered billion dollar deals at Lehman Brothers, has since then been giving away his fortune on the internet.

Nicolas Dickreuter created a website called PsychoAuction.com and sold hundreds of twenty dollar bills for as little as one cent each.

He also sold scores of the latest must-have electronic gadgets such as iPhones and iPods - all for less than $1.

While the site has already been a great success in Europe, he is now moving to the US, which he calls his second home anyway, since he spent a lot of time in Lehman's headquarters in New York.

But friends are concerned that the 30-year-old former mergers and acquisitions expert - who advised on deals worth multiple billions at Lehman Brothers before the firm went bust - has lost his mind and was giving all his money away through the site.

A friend said: "Nicolas is a lovely guy but he's really had a meltdown with this psycho auction site." Many of his friends made highly skeptical comments about Dickreuter's business.

Dickreuter's site (http://www.PsychoAuction.com) allows users to bid for items - such as $1000 dollars in cash - for as little as $12 with new users getting $3 worth of free bids when registering at the site. But it's much more than that: People can also chat and deceive each other about the bidding strategies and play games which give them better chances in winning one of the bargains sold on the site. "It's a modern form of entertainment shopping and people are loving it!". Only three months after launching the site it has more than 15,000 users.

He is already understood to have given away cash and goods worth thousands of dollars since launching the site - which he believes will one day rival web giant eBay.

Dickreuter said: "Since Lehman has disappeared times have gotten much tougher for people who used to work in finance and many have been forced to look for alternatives, but it's important to see that a downfall always bring opportunities. PsychoAuction is the best example for this."

"Psychoauction.com is simply the next generation in online auction sites. It is true that some early users are able to pick up items such as $100 bills and gadgets for a few cents but once the site attracts more users there will be more bidders too."

Items sold recently on the site included a new iPhone for 60cents, a Bose Soundsystem for $1.60 and a twenty dollar bill for 13c. Some of the site's users are understood to be selling on their purchases through eBay.

###

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Nicolas Dickreuer
Visit website