• Oct 3rd 2010 at 1:01AM
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News is coming in that the body of Uwe Gemballa has been found in South Africa. Gemballa was the former CEO of the Porsche tuning company that bears his name. As we reported earlier this year, Mr. Gemballa went missing in February after arriving in South Africa for a business trip.

The details that poured in after the reported disappearance of Gemballa caused great speculation that shady business deals were afoot. He was reportedly having trouble paying its employees, his wife was given power of attorney and registered the company for bankruptcy and he had started a second company with his 79 year-old mother listed as the sole stockholder.

To further muddy the waters, it's being reported that Uwe Gemballa was turning towards Czech fugitive and South African organized crime boss, Radovan Krejcir. A former business partner of Krejcirs by the name of Juan Meyer has provided the local police with a sworn statement, saying that the Porsche tuner and the mobster were working on a business arrangement. Gemballa was slow in getting money to Krejcir and it may be what cost him his life.

It's a sad, speculative end for a once famed tuner of German sports cars. The Gemballa company has moved on since Uwe's disappearance but these new stories can't help it as remaining employees attempt to revive the company. Thanks for the tips, Alexander and Nicolas!

[Source: Stern.de – translated from German into English]

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