Fund Manager Allegedly Killed Bank CEO In Firm's Parking Garage

On Monday morning, a Licechtenstein-based bank CEO was allegedly shot dead by a former fund manager as he was heading into the office, according to statements from the firm and police, via Bloomberg News.

Jürgen Frick, the CEO of Bank Frick & Co, was allegedly shot dead in the firm's underground parking garage in Balzers by Jürgen Hermann, the statements said. Frick was 48.

"The employees of the bank are stunned by the senseless act," the COO Edi Wögerer said in a statement. "Words cannot express our grief at the loss of Jürgen Frick. We extend the mourning family Frick our sincere condolences."

The incident happened around 7 a.m.

Hermann fled the scene, according to authorities. His car was later discovered in a nearby town of Ruggell along the Rhine River.

Police believe Hermann has committed suicide. They said in a statement they found Hermann's passport, driver's license, and handwritten notes with a confession and parting words.

A body has not yet been found, though. Police said they're using helicopters, thermal imaging cameras, and search dogs to search the area.

According to the bank, Hermann had tried unsuccessfully for many years to blackmail the firm.

The bank said that Hermann claimed it was responsible for the collapse of his fund Hermann Finance back in 2005.

In 2010, the Liechtenstein Supreme Court had dismissed Hermann's action.

The bank said that Hermann continued to make threats to Bank Frick.

"Hermann put his threats into action yesterday," the bank's statement said.