A suspect arrested in the course of an investigation into an alleged €300m ($376m) Ponzi scheme involving Germany's K1 hedge fund group has committed suicide, German prosecutors confirmed yesterday.
Dieter Frerichs, managing director of K1 group funds K1 Global and K1 Invest, shot himself on a Spanish beach on Saturday.
He died as local police tried to detain him after a Madrid court ordered his extradition, according to a spokesman for the state prosecutors in the German city of Würzburg.
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