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The Daily Hodl 2024-11-29 01:04:22

Billionaire’s $13,000,000,000 Fortune Allegedly Vanishes Amid Accusations of Decades-Long Fraud and Betrayal

An 81-year-old heir to the Hermès fortune says he’s lost a staggering $13 billion in assets. Nicolas Puech says he is completely unable to track where his six million Hermès shares have gone. Puech claims his former financial advisor Eric Freymond stole the assets in a “gigantic fraud” orchestrated over more than two decades, reports the Wall Street Journal. Freymond denies the allegations, claiming Puech himself may be lying to avoid inheritance taxes and transfer his wealth to longtime employees. Puech has filed multiple lawsuits in Geneva against Freymond, but the Swiss courts have dismissed them, citing insufficient evidence and an overall lack of attention to his financial affairs. And the legal battles continue as the Hermès family and others try to uncover the truth behind the missing billions. Hermès was founded in 1837 by Thierry Hermès in Paris, originally creating finely crafted harnesses and bridles for horse-drawn carriages. Over time, the company expanded into luxury leather goods, accessories, and clothing, earning a reputation as one of the world’s most prestigious luxury brands. Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Billionaire’s $13,000,000,000 Fortune Allegedly Vanishes Amid Accusations of Decades-Long Fraud and Betrayal appeared first on The Daily Hodl .