Former head of Erb Group found dead
Rolf Erb, former head of the Erb Group, which went bust in 2003 with debts of CHF2 billion ($1.98 billion), has been found dead in his home. Thurgau cantonal police on Monday confirmed a report in Blick newspaper and added that a coroner would determine whether it was a natural death or suicide.
The collapse of the Winterthur-based conglomerate was the second-largest bankruptcy in Swiss history, after Swissair. Erb said it had suffered mainly from bad real estate deals in Germany.
Rolf Erb, 65, was sentenced to a seven-year prison sentence. At the end of March, the federal court rejected an appeal by Erb, ruling that he would definitely have to serve his time.
Erb, who had rejected all accusations relating to the bankruptcy and had blamed his late father, argued he was a serious suicide risk, but the court said suicide was less likely inside prison than outside.
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