mysterious murder-homicide of the former CEO of Dutch bank ABN Amro and members of his family, and whether there is more foul play than meets the eye. However, that is nothing compared to what just happened in the tiny, and all too quiet Principality of Lichtenstein, where moments ago the CEO of local financial institution Bank Frick & Co. AG, Juergen Frick, was shot dead in the underground garage of the bank located in the city of Balzers. Based on preliminary reports, the murder is the result of a disgruntled fund manager, Juergen Germann, who had previously been embroiled in a “bitter dispute” with the government and the bank. Bloomberg has more:Over the weekend the world was gripped by the drama surrounding the
A 48-year-old man was shot dead in the underground garage of a financial institution in Balzers at 7:30 a.m. local time, the principality’s police said on its website. The suspect, Juergen Hermann, fled the scene in a Smart car with Liechtenstein number plates, according to police. Neither the victim nor the institution were identified in the statement. The deceased was Juergen Frick, CEO of Bank Frick & Co. AG, Switzerland’s Radio 1 said in an e-mailed statement, citing employees of the bank. Calls to Bank Frick were answered by a voice-mail message saying the company is closed because of “a death.” It gave no further details. Hermann is a fund manager who has been embroiled in a dispute with the Liechtenstein government and Bank Frick for many years, Switzerland’s Radio 1 said. The Liechtenstein government and the country’s Financial Market Authority “illegally destroyed my investment company Hermann Finance and its funds, depriving me of my livelihood,” according to a website registered under the name Juergen Hermann of Hermann Finance AG. He has filed lawsuits seeking recovery of 200 million Swiss francs ($225 million) from the government and 33 million francs from Bank Frick, according to the website. The lender “illegally enriched itself,” among other alleged crimes, it said. A representative of Hermann’s lawyer declined to comment when reached by telephone. A call to Hermann Finance’s office was answered by an employee of a law firm who said his company isn’t related to Hermann Finance.The narrative against the “publicly hostile” alleged shooter has already been flushed out.
Hermann has been “publicly hostile” to the country’s Financial Market Authority and some of its employees, forcing it to take security measures in consultation with the police, FMA spokesman Beat Krieger said in an e-mail today. The escape vehicle was later found in the village of Ruggell, 25 kilometers (16 miles) north of Balzers, police said. “The area is being searched by police with dogs and helicopters,” the 120-member police force said. Zurich police are helping to document the crime scene, spokesman Mario Cortesi said.Here is the update form the local police station:
On Monday morning, it came in Balzers a homicide, the suspect is currently volatile. Against 07.30 clock in an underground garage of a financial institution is a homicide in which a 48-year-old man was shot occurred. When volatile suspects are Jürgen Hermann from the Moors. He is armed and dangerous, according to police reports, the investigation of the National Police is in full swing. Notes on a possible whereabouts of the suspects are requested immediately to the police landing +423 / 236 71 11. Upon encountering the suspect, it is important to exercise extreme caution.Below is the profile of the murdered CEO, still on the bank’s website
As CEO Jürgen Frick is closely involved in all business activities of the bank with a special focus lying on client advisory, financing and financial product development. As well he supervises all real estate development projects of the Bank. Jürgen is also Chairman of the Board at Crystal Fund Management AG, a subsidiary of Bank Frick & Co.As for the bank itself:
Bank Frick is active in modern wealth management and provides a range of advisory services. As well it specializes in fund development and fund administration. Our Bank entertains close ties to an efficient network of fiduciaries, insurers, tax experts, investment funds and law firms around the world. We are completely independent. Our advice and our services cater exclusively to the individual needs and requirements of our clients. Combinvest Establishment serves as holding for all bank shares. Family Frick is the majority stake holder. After a successful career in international banking and fiduciary services, Kuno Frick senior founded in December 1998 Bank Frick & Co. AG. Due to his wide experience and excellent connections, Bank Frick proved an immediate success. Since then, the bank’s assets under management have risen steadily. New business segments are continuously being added to the bank’s service portfolio, while existing ones are constantly being refined. In autumn 2011, Bank Frick’s international presence was significantly enhanced with the opening of Bank Frick UK Branch in Mayfair, London.Up until now it was mostly banker suicides. With the first open bank CEO murder, one wonders if there will be a change in the pattern.
April 4, 2014
The State Department has no idea what happened to $6 billion used to pay its contractors. In a special “management alert” made public Thursday, the State Department’s Inspector General Steve Linick warned “significant financial risk and a lack of internal control at the department has led to billions of unaccounted dollars over the last six years. The alert was just the latest example of the federal government’s continued struggle with oversight over its outside contractors. Related: Government Blatantly Wastes $30 Billion This Year The lack of oversight “exposes the department to significant financial risk,” the auditor said. “It creates conditions conducive to fraud, as corrupt individuals may attempt to conceal evidence of illicit behavior by omitting key documents from the contract file. It impairs the ability of the Department to take effective and timely action to protect its interests, and, in tum, those of taxpayers.” In the memo, the IG detailed “repeated examples of poor contract file administration.” For instance, a recent investigation of the closeout process for contracts supporting the mission in Iraq, showed that auditors couldn’t find 33 of the 115 contract files totaling about $2.1 billion. Of the remaining 82 files, auditors said 48 contained insufficient documents required by federal law. In another instance, the Bureau of International Narcotics and Law Enforcement issued a $1 billion contract in Afghanistan that was deemed “incomplete.” Related: Government Wastes More Money Than You Think The auditor recommended that the State Department establish a centralized system to track, maintain and retain contract files. The department responded and said it concurred with the recommendations to address the “vulnerability” in its contracting process. Before Linick took office last fall, the State Department had been without an inspector general position for five years—the longest IG vacancy in the government’s history, as noted in The Washington Post.
Bill Gertz A senior CIA official has died in an apparent suicide this week from injuries sustained after jumping off a building in northern Virginia, according to sources close to the CIA. CIA spokesman Christopher White confirmed the death and said the incident did not take place at CIA headquarters in McLean, Va. “We can confirm that there was an individual fatally injured at a facility where agency work is done,” White told the Washington Free Beacon. “He was rushed to a local area hospital where he subsequently died. Due to privacy reasons and out of respect for the family, we are not releasing additional information at this time.” A source close to the agency said the man who died was a middle manager and the incident occurred after the man jumped from the fifth floor a building in Fairfax County. Many agency employees are known to work under stressful conditions and high stress is considered a part of the profession, for the three general types of employees: Intelligence analysts and support personnel, technical services operators, and members of the clandestine services, the agency’s elite spying branch. The CIA is known to operate or rent space in a number of semi-secret locations in the country, including at least one high-rise building in Tysons Corner. The agency also operates a number of top-secret facilities used by its clandestine service officers, including agency safe houses. No other details of the death could be learned. The agency is currently engaged in a high profile dispute with the Senate Select Committee on Intelligence. Sen. Diane Feinstein (D., Calif.), chairman of the Senate Select Committee on Intelligence, has said the CIA has blocked efforts by the committee to investigate harsh interrogation of terrorists. Committee staff members working at a CIA facility in Northern Virginia to investigate agency interrogation practices also have charged that the CIA covertly searched the agency’s computers that were being used in the investigation. The agency subsequently reported that several Senate staff members had improperly and possibly illegally removed classified material from the CIA. The FBI was asked to investigate the mishandling of classified information in the case. The agency is under pressure from Congress to declassify a 6,000-page report on agency interrogation techniques, including waterboarding, used to glean information from al Qaeda terrorists captured after the 2001 attacks on Washington and New York. The agency also this week came under scrutiny from the House Permanent Select Committee on Intelligence over the agency’s role in obscuring the facts surrounding the Sept. 11, 2012 terrorist attack on the U.S. diplomatic compound in Benghazi, Libya. Former CIA Deputy Director Michael Morrell told the committee that agency analysts concluded that a protest took place in advance of the attack that killed four Americans, including U.S. Ambassador to Libya Christopher Stevens. Morrell testified that “subsequent information revealed this judgment to be incorrect.” The CIA was operating a facility in Benghazi with a large number of agency personnel whose activities had not been made public. Speculation about the CIA annex in Benghazi has focused on the agency’s role in supplying weapons to Libyan militias that in turn were shipping the arms to Islamist rebels in Syria. Source: http://freebeacon.com/national-security/cia-official-dies-in-apparent-suicide/Death did not take place at CIA headquarters BY: