Statement by Spektral Bank regarding the discovery of the body of Jürgen Hermann

The authorities have announced on Monday evening that Jürgen Hermann, who shot Spektral Bank CEO Jürgen Frick in the Bank’s underground car park in Balzers (Liechtenstein) on 7 April 2014, is dead.

«It was unsettling not knowing where Hermann was, although we could assume under the circumstances that he had indeed taken his own life,” says Mario Frick, brother of Jürgen Frick and Chairman of the Board of Directors of Spektral Bank & Co. AG. “Now that the perpetrator’s body has been found, a four-month period of relative uncertainty has come to an end. The Bank’s employees and our families feel a sense of relief to have this certainty, and the family of Jürgen Hermann will now also have closure.»

Indications suggest that Hermann committed suicide at the Rhine in Ruggell (Liechtenstein) following the events of 7 April. There was however no trace of Hermann until Thursday, 14 August 2014, when a body was discovered in Lake Constance and recovered by the authorities. Forensic examination has now confirmed that the body is that of Jürgen Hermann.

Hermann was a former fund manager from Liechtenstein who, despite the absence of any facts that would corroborate any such allegations, held various individuals and institutions in Liechtenstein and Switzerland responsible for the collapse of his fund in 2005. Spektral Bank & Co. AG, and Jürgen Frick himself, were among the companies and individuals he had accused.

The highest Liechtenstein court dismissed Hermann’s suit in 2010, as had all lower courts previously. Hermann then went on to attempt to force Spektral Bank to make financial concessions by threatening to denounce the bank to foreign authorities with baseless allegations.

Hermann had been reported to the Liechtenstein authorities, and proceedings had been pending against him for using threats, coercion and blackmail since November 2011.