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 The BBC's Jon Sopel reports"The two died of asphyxia"  real 28k |
Billionaire banker death mystery
The fire began outside the apartment and spread through the roof |
Monaco police have launched an investigation into the death of one of the world's richest men in a fire in his apartment started by two armed attackers.
Edmond Safra, listed as one of the world's top billionaires by Forbes magazine, died from asphyxiation in the blaze, which was started outside his duplex apartment in Monte Carlo.
The building housed several financial institutions |
French police are providing reinforcements.
The Minister of State Michel Leveque and Interior Minister Philippe Deslandes visited the apartment in a sign of the importance attached to the incident.
Police are now trying to examine whether the attack was linked with Mr Safra's business activities.
He had incurred heavy losses in Russia last year, and had also received death threats in recent years, according to international finance sources.
He had no children and had not chosen an heir to his financial empire.
Attack
Mr Safra took refuge in his bathroom with his step-granddaughter's nanny after two men armed with knives broke into the luxury seaside apartment early on Friday morning.
Both suffocated to death after the intruders started a fire on the second floor which spread through the roof, according to the principality's press service.
His wife and step-granddaughter, who had barricaded themselves in another room, escaped unharmed.
The family bodyguard was stabbed in the attack and is in a critical condition in the Princess Grace Hospital.
Mr Safra's banks had a reputation for being safe |
He acquired a reputation as a banker with the Midas touch, with a legendary ability to read the markets.
Sale to HSBC
His businesses are unusual in that they are built on deposits rather than lending - loans make up less than 30% of their total assets.
In 1966 he founded the Republic National Bank of New York, and was a major shareholder in the bank.
The attack on Mr Safra came during the final stages of the purchase of the bank by London-based HSBC Bank.
Last month he agreed to reduce by £280m the amount he would make from the deal.
His decision to sell the bank had come as a surprise to some. It has been speculated that his exit may be due to heavy losses on Russian securities last year.
HSBC said in a statement that it was "appalled" at the news.
Its shares in London fell 2% after the announcement.
Mr Safra had been expected to take an active role in ensuring a smooth transition for Republic's clients.
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03 Dec 99 | Business |
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Last of the personal bankers |
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