Hermès heir Nicolas Puech alleges 12 billion euro fraud

The Hermès inheritance is once again in the limelight: heir Nicolas Puech has alleged a 12 billion euro fraud. As reported by Milano Finanza, the descendant of the fashion house accused asset manager Eric Freymond of misappropriating 6 million shares belonging to him, equivalent to a 5.7 percent stake. At current market value, this shareholding would be worth more than 12 billion euros. However, the Geneva Court dismissed the claim.

In 2022, Puech was at the centre of a rather murky affair. He had designated his gardener and handyman, Abdel Jamal, as his sole heir, amending his original will which bequeathed the 6 million euros in shares to the Isocrate Foundation, an organisation he himself established.

According to the Milanese newspaper headquartered on Via Burigozzo, the foundation reacted by partially placing Puech under guardianship, halving his powers and effectively blocking the donation.

The ruling, pronounced on July 12 by a Geneva court, states that the three lawsuits brought by the 80-year-old Frenchman against Freymond were all dismissed.

As the Swiss digital news platform 24 Heures reported on Wednesday, the Criminal Appeals Chamber of Switzerland stated that Nicolas Puech had filed a series of complaints against his former asset manager in the autumn of 2023.

The lawyer representing Puech described it as the “case of the century” and a “gigantic fraud,” asserting that his client no longer has access to his assets.

This article was translated from Italian with the help of an AI tool.