Jürgen Harksen died on Tuesday at the age of 63 at his long-time residence in Palma de Mallorca. The Flensburg-born man had skillfully persuaded investors to make investments, but in the opinion of the judiciary there was no real business idea behind them.

He was considered a dazzling figure with a penchant for luxury, which even big names from show business as well as doctors and lawyers fell for. He had previously fled to South Africa and thus escaped the reach of the German justice system for years.