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October 31, 1994|From Times Staff and Wire Reports

Fugitive German Tycoon Reportedly in Iran: Jurgen Schneider, a real estate magnate who vanished without a trace in April and left behind more than $3.3 billion in debts, is hiding in Iran after paying hundreds of thousands of dollars to the Iranian government, the Sunday Times reported. The paper said bankers in Germany's financial capital, Frankfurt, had been told of Schneider's whereabouts and that he had been seen in the Iranian capital Tehran. German investigators discovered Schneider had prepared his hide-out in advance and paid "millions of deutsch marks to the Iranian authorities," the paper added. Schneider is wanted by German police for alleged fraud.

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