The accused, 29-year-old Halil I. and his younger colleague, 23-year-old Ferhat K., apparently kidnapped their millionaire client from his residence in Graz-Wetzeldorf in February.
Heinz Peter Egger had called the pair to his house to talk, after discovering they had removed around €80,000 from two of his bank accounts.
In a scenario which reads like a CSI plot, the grisly murder appears to have been planned in meticulous detail. Instead of returning the stolen money, the two Turkish-born men – the elder of whom reportedly has a gambling addiction - decided to make the wealthy real estate heir disappear.
The young bankers - both married, and one with a five-year-old daughter - rented a container in a storage compound in Reininghausstrasse, Graz.
After brutally strangling Heinz with a rope, the men took their victim's corpse to the container where they hacked it to pieces with a handsaw. The body parts were then set in concrete in buckets – the same method used by Austrian double murderer and so-called Ice Lady, Estibaliz C to dispose of her victims.
As the search for the body parts continues, the accused are being held in pre-trial detention. Further questioning will be carried out on Monday.
Until now, the murder suspects have unblemished records, however they appear to have been careless in covering their tracks. Mobile phone records detail their movements and they neglected to clean the rented container.
"We have found DNA and traces of blood from the missing victim," said spokeswoman Barbara Schwarz from the Department of Public Prosecution in Graz. Now the police's first priority is to find the ultimate proof of the macabre crime - the body parts.
"What is certain is that the victim's corpse was hacked to pieces in a rented container with an ordinary saw from the hardware shop. The murderers then set the parts in concrete and disposed of them," Schwarz said.
According to Schwarz, all available resources are being put into the search for the body parts, however divers are currently unable to search the Mur River due to flooding.