Mystery over drowned tycoon’s ‘lost’ millions
WITH the mystery surrounding the death of 69-year-old hedge fund tycoon Michael Treichl and the fire at his Grade I- listed family home still unsolved, a further enigma has now emerged – the whereabouts of his multimillion-pound fortune.
Lawyers for Treichl last week gained a grant of probate, and revealed he left less than £325,000, despite years of deal-making.
Treichl, who comes from one of the wealthiest families in Austria, was found drowned in Lake Geneva, Switzerland, in June – weeks after being arrested and questioned by police over the blaze which destroyed 500y e a r- o l d Parnham House. He had spent a rumoured £ 10 million restoring the Dorset mansi o n , whi c h h e had bought for £4 million in 2001.
There have been suggestions that he dramatically burned down the house and then took his own life. It was never properly explained why some treasures appeared to have been rescued from the house, or who had let thoroughbred horses belonging to his wife Emma, a former Vogue model, out of their stables, allowing them to escape the blaze. Emma and their four children had been on holiday in France.
It is believed that Treichl was the man caught on CCTV buying a rucksack that was subsequently discovered close to the burnedout house. The City was awash with rumours that the Harvardeducated financier had suffered a series of damaging losses after betting on the Brexit vote.
However, others point out that it was unlikely Treichl committed suicide because he was clearly preparing for the future. He had submitted plans for the redevelopment of his beloved house, and even planned shooting parties and a trip to Paris with Emma.
Now comes a grant of probate showing such a small estate – but with a highly significant sum of money. For inheritance tax is levied by the Inland Revenue on estates worth more than the £325,000 threshold.
Does this mean that Treichl’s true wealth is hidden offshore, beyond the reach of Inland Revenue? Is this merely the sort of careful tax planning used by most wealthy individuals?
Or is it evidence that, as a wellplaced source told this newspaper, Mr Treichl had ‘put his affairs in order’ not long before his death. The questions remain.