Son of billionaire CEO now under investigation after father fell 320ft to his death during hike

The son of a billionaire CEO is allegedly under investigation after his father's death during a hike.

Isak Andic, founder of fashion brand Mango, died in December 2024 following an accident in the Montserrat mountains in Spain.

A statement at the time by Mango CEO Toni Ruiz explained: "It is with deep regret that we announce the unexpected death of Isak Andic, our non-executive Chairman and founder of Mango, in an accident that occurred this Saturday.

"Isak has been an example for all of us. He dedicated his life to Mango, leaving an indelible mark thanks to his strategic vision, his inspiring leadership and his unwavering commitment to values that he himself imbued in our company.

"His legacy reflects the achievements of a business project marked by success, and also by his human quality, his proximity and the care and affection that he always had and at all times conveyed to the entire organization.

"His departure leaves a huge void but all of us are, in some way, his legacy and the testimony of his achievements. It is up to us, and this is the best tribute we can make to Isak and which we will fulfill, to ensure that Mango continues to be the project that Isak aspired to and of which he would feel proud.

"In these extremely difficult times we share the pain of the family as if it were our own."

Isak Andic was the founder of fashion brand Mango (Julien M. Hekimian/Getty Images)

According to UK publication The Times, Andic had been hiking with his eldest son, Jonathan, when he fell over 320 feet. They had reportedly been walking along a popular hiking route when the incident took place. The publication reports that Jonathan had been walking ahead when he heard stones falling and turned to see his father had fallen off a cliff.

Although initially ruled an accident, Spanish outlet El Periódico now reports that a judicial review is set to take place, over inconsistencies in Jonathan's version of events.

PEOPLE claim that, according to a translated article in El País, the case is now being treated as a homicide. Meanwhile, The Times reports that Jonathan is now a suspect in the case.

Jonathan is reportedly being investigated (Lorena Sopena/Anadolu via Getty Images)

Despite this, police sources have told El País that [translated] 'the main hypothesis they are working with is that it was an accident, as they have found no evidence to the contrary'.

A Mossos d’Esquadra spokesperson told PEOPLE: "The investigation is under judicial review and is subject to secrecy of proceedings."

Andic family representatives have said in a statement, via Reuters: “The Andic family has not commented, and will not comment, on Isak Andic’s death. It wishes to show respect for the ongoing proceedings and will continue co-operating fully with the authorities. The family is confident that this process will end soon and that Jonathan Andic’s innocence will be proven."