BMW Heiress Blackmail Case: Swiss Banker Admits Guilt

04/09/2009 05:12 am ET | Updated May 25, 2011

Germany's richest woman and heir to the BMW car empire has been spared an embarrassing court appearance after her playboy lover admitted to defrauding her of millions of euros and attempting blackmail with intimate footage of their encounters.

Helg Sgarbi, a Swiss former investment banker, confessed in a Munich court on Monday to having defrauded Susanne Klatten, a member of the reclusive Quandt dynasty, and three other wealthy women of more than €9m ($11.3m). He was sentenced to six years in prison.

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