The son of a billionaire banker died after attempting to save his fiancée, who fell off a boat that was 60 feet tall.

The Miami Herald reports Juan Carlos Escotet Alviarez was catching sailfish at the Ocean Reef Club in north Key Largo, Fla. when the unthinkable happened.

The 31-year-old son of Juan Carlos Escotet Rodriguez was struck by a boat propeller and succumbed to his injuries after he jumped into the water to rescue his fiancée Andrea Montero.

Montero was apparently bumped off the boat after the ship's captain stumbled into her while attempting to help someone with a fishing rod. She managed to miss the propellers and was able to get to safety with no serious injuries.

Florida Fish and Wildlife Conservation Commission officials said that Montero hit her head before the crew pulled her back onboard using a flotation device. She allegedly does not remember the incident.

"Rough as it was, she couldn't say whether it was when she went over or coming back in. She doesn't remember when it happened," FWC spokesman Officer Jason Rafter told The Miami Herald.

"During a fishing tournament, Juan Carlos Escotet Alviarez's fiancée fell into the water and he jumped in to save her," the family said in a statement. "While she was able to return to the boat safely, Juan Carlos was hit by the propeller and did not survive the injury. His family asks for privacy and respect from the press during this very difficult time as they grieve this tremendous loss. Thank you."

The couple were reportedly planning to wed in November.

Alviarez was a director of the Caracas banking group Banesco, which his father founded. He was a University of Miami graduate who had a background in real estate development. Forbes reports the company is worth over $3.5 billion.

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