Police were investigating after Schumacher's confidential medical files were offered for sale, apparently having been stolen from the University Hospital of Lausanne in western Switzerland, where the Formula One legend was recovering from injuries sustained in a skiing accident last year.
The unnamed man was arrested by police in Zurich on Tuesday, and was found hanged in his cell on Wednesday morning.
He was being investigated for violating professional secrecy by stealing and trying to sell the files. He had denied the charges and was set to face prosecutors on Wednesday, but was found dead.
As the man did not stand trial, he will be presumed innocent by Swiss law.
Schumacher, 45, is a seven-times Formula One divers' champion, and 91-times Grand Prix winner. He retired from racing in 2012 before suffering serious head injuries in December 2013 after a skiing accident in France.
He remained in a coma for nearly six months before gradually awakening, leaving hospital in Grenoble to continue his rehabilitation in Switzerland, where the alleged theft occurred.
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