Fund manager said to have taken own life after alleged murder.
Bloomberg News reports that the murdered CEO of Bank Frick & Co had sued his alleged killer for extortion three years ago, according to the Liechtenstein private bank.
Juergen Frick, 48, was shot Tuesday in the firm’s underground garage in the town of Balzers. The suspect, Juergen Hermann, fled the scene and appears to have later committed suicide, according to a police statement.
Hermann, a fund manager who has been embroiled in a dispute with the government and Bank Frick, used the firm as his depositary bank, Sigvard Wohlwend, a spokesman, said by telephone Tuesday. After the fund’s board of directors stepped down in 2004, Hermann named himself sole chairman, prompting investors to pull money, Wohlwend said. The bank reported him to regulators and the fund was liquidated in 2005, he said.
Hermann is said to have blamed the government and regulator for destroying his company. He is believed to have filed lawsuits seeking recovery of $226m from the government and $37.2m from Bank Frick, according to the website.
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