Dieter Frerichs, Hedge Fund Manager, Commits Suicide On Spanish Beach Before Ponzi Arrest

07/06/2010 01:59 pm ET | Updated May 25, 2011

A former hedge fund manager shot himself on a Spanish beach to avoid being arrested over an alleged £249million Ponzi scheme.

Dieter Frerichs, a German national who was once the managing director of K1 group funds K1 Global and K1 Invest, ran into the sea after police startled him while sunbathing at a house in Palma, Majorca.

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