Adolf Merckle's Family Confirms Suicide; Latest Victim of Global Credit Crunch?
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The family of German billionaire Adolf Merckle has confirmed that his death was a suicide.
Merckle was hit by a train near his home in Blaubeurne yesterday evening.
Merckle could be the latest victim of the global credit crisis. Merckle made a bad bet on Volkswagen AG. In addition, the value of his HeidelbergCement AG stock has deteriorated. Merckle was recently in negotiations with banks for a bridge loan to rescue his investment company VEM Vermoegensverwaltung GmbH.
In a statement, the family said the financial crisis caused economic hardship, turning him into a broken man and he has ended his life.
Merckle was hit by a train near his home in Blaubeurne yesterday evening.
Merckle could be the latest victim of the global credit crisis. Merckle made a bad bet on Volkswagen AG. In addition, the value of his HeidelbergCement AG stock has deteriorated. Merckle was recently in negotiations with banks for a bridge loan to rescue his investment company VEM Vermoegensverwaltung GmbH.
In a statement, the family said the financial crisis caused economic hardship, turning him into a broken man and he has ended his life.
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