Multi-millionaire internet tycoon rubbed his groin against female tube passenger and gazed at women's bottomsStefan Glaenzer, 51, travelled back and forth on trains looking at women's bodiesHe admitted to sexually assaulting a female passenger at Bond StreetThe ex-chairman of Last.FM said he had taken cannabis at the time
18:27 GMT, 30 November 2012
Pervert: Stefan Glaenzer, the former chairman of music streaming site Last.FM, rode back and forth on tube trains while staring at women's bodies
A multi-millionaire internet tycoon is facing jail for rubbing his groin against a female tube passenger and travelling back and forth on the Underground while gazing at women’s bottoms.
Stefan Glaenzer, the former chairman of music streaming site Last.FM, was spotted staring at two commuters as they waited to board a Central line train at Oxford Circus station.
German-born Glaenzer, 51, got off the train one stop later at Bond Street and
then travelled back to Oxford Circus, all the while standing behind women on
the train and platforms.
'Mr Glaenzer was standing unnecessarily close to one female, looking down at her back,’ said prosecutor Robert Short.
On a second trip to Bond Street, Glaenzer was seen by plain clothes officers standing close to another woman on the packed train.
They looked on as he thrust his groin against her backside.
Glaenzer, founder of technology hub White Bear Yard in Clerkenwell, admitted sexually assaulting the woman, who cannot be named, at Westminster Magistrates’ Court.
He claimed he was on a drugs binge at the time of the incident, last August 8.
‘He does not come to offer excuses for his actions, but simply to bring to the court’s attention that this matter happened in fact he had taken cannabis’, said Sallie Bennett-Jenkins QC, defending.
‘This conviction has devastated him personally and professionally.
‘He has lost his good character that he has maintained for his entire life.’
She added: ‘He has smoked drugs for some considerable time, but has never experienced anything like this.
'Devastated': The father of three immediately confessed to his wife and has promised to address his drug habit, Westminster Magistrates' Court was told
‘He has committed this offence while under the influence of an intoxicating substance, and he simply can’t believe what has happened.’
Glaenzer, a father of three, immediately confessed to his wife and has promised to take steps to address his drug habit, the court heard.
He asked to be sentenced immediately with a fine, but magistrate Jessica Baldwin asked for a pre-sentence report to be prepared first.
‘We are concerned this offence appears to be planned, aggravated by the fact your genitals, albeit above clothing, touched the female’, she said.
‘Your drug use is an aggravating feature, not mitigation’, she told the tycoon.
Shameful: Glaenzer, hailed as of Europe's top investors by TechCrunch in 2010, was spotted standing very close to two commuters at a busy Oxford Circus (file picture)
He will have to sign the Sex Offenders Register as a result of this conviction.
Glaenzer, a DJ for 15 years, was the co-founder Ricardo.de, one of the first European online auction websites, and became chairman of Last.FM in 2004.
He sold his stake in the site for 22million in 2007 and currently sits on the board of health and is an investor in beauty website Wahanda.com.
He was hailed as of Europe’s top investors by TechCrunch in 2010, and also works for venture capital firm Passion Capital.
Glaenzer, of Notting Hill, west London, pleaded guilty to one count of sexual assault.
He was released on unconditional bail ahead of the sentencing hearing on December 20.