May 20, 1995 in Nation/World

Fugitive Behind Business Collapse Arrested

Compiled From Wire Services

Germans rejoiced Friday at the news that fugitive real-estate baron Juergen Schneider had been arrested Thursday in a suburb of Miami.

His capture, following a manhunt that lasted more than a year, raised hopes that the man behind one of modern Germany’s most spectacular business collapses would eventually be brought home to justice.

“We’re holding out the hope that finally, through Schneider, all of the small construction businesses and workers (whom Schneider never paid) will get their money,” said construction-workers’ union spokesman Werner Koehler.

Schneider, 61, vanished in April, 1994, leaving a castle-like headquarters, debts totaling $3.5 billion and a note claiming that he was ill and under doctor’s orders to retire immediately.

Thoughts and opinions on this story? Click here to comment >>

Get stories like this in a free daily email