A 81-year old heir of the Hermes fortune claims to have lost $13 billion worth of assets.
Nicolas Puech claims he cannot track his six million Hermes share.
The Wall Street Journal reports that Puech alleges his former financial adviser Eric Freymond, stole assets over a period of more than 20 years.
Freymond refutes the accusations, saying Puech may have lied to avoid paying inheritance tax and to transfer his wealth from long-time employees.
Puech filed several lawsuits against Freymond in Geneva, but Swiss courts dismissed them citing insufficient proof and an inability to pay attention to the financial affairs of Puech.
The legal battles are continuing as Hermes and other families try to find out the truth about the billions of dollars that have disappeared.
Hermes, founded by Thierry Hermes 1837 in Paris to create finely crafted harnesses for horses-drawn carriages.
The company has expanded its product line to include leather products, clothing and accessories. It is now regarded as one of world’s top luxury brands.
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As new information becomes available, this post Billionaire’s $13,000,000,000 fortune Allegedly vanishes amid Accusations Of Decades Long Fraud And Betrayal might be updated.
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