The murdered chief executive officer of Bank Frick was embroiled in a dispute with his alleged killer, according to the bank.
Juergen Frick, 48, was shot Monday in the Liechtenstein private bank’s underground garage in the town of Balzers.
Police have launched a manhunt for the former fund manager suspected of the shooting. Juergen Hermann, who fled the scene in a gray and white Smart car, may have committed suicide after his driver’s license and passport were found near the Rhine River, AP reported.
“In the passport there were handwritten notes confessing to the crime as well as parting words,” the police said in a statement.
Hermann, who used Bank Frick as his depositary bank, blamed the firm and regulators for the demise of his fund, a bank spokesman told Bloomberg. In 2004, investors pulled their money from Hermann’s fund after the board of directors stepped down and he named himself sole chairman. The bank reported him to regulators and the fund was liquidated in 2005.
Hermann had filed lawsuits seeking $226 million from the government and $37 million from the bank, Bloomberg reported.
In an angry screed on his website, Hermann called himself the “Robin Hood of Liechtenstein, public enemy No. 1” and demanded the “return of investments worth millions that were destroyed by the Liechtenstein financial mafia.”