FLASH
Shkruar nga Pamfleti
Hermès, family and lost fortune: A story of betrayal, trial and billions of euros...
One of the biggest financial scandals to rock the luxury world has unfolded far from the public eye, between the Swiss Alps, the banking offices of Geneva and the prestigious fashion hub of Paris. At the center of this story is Nicolas Puech, an heir to the Hermès family, who once owned about 6% of the company's shares, now valued at over 13 billion euros.
In September 2022, during a meeting of his charitable foundation Isocrates, held in Florence, everything seemed calm and luxurious. But after returning to Switzerland, Puech fired his banker of 24 years, Eric Freymond, accusing him of “massive fraud.” According to the lawsuit filed in Geneva, Puech had discovered that his Hermès shares had disappeared and were not listed in any of the banks where he thought he had deposited them.
The faith that turned into disaster
Freymond, a well-known figure in the Swiss financial elite, had gained Puech's full trust since 1998, receiving full authority to manage his wealth. According to court documents, Puech signed documents without reading them, did not check accounts and had no accurate knowledge of his assets. What began as a friendship turned into a relationship that many describe as deeply manipulative.
In 2023, Puech launched a legal battle to recover the shares. But shockingly, on July 7, Eric Freymond appeared before French magistrates to testify, and just a few weeks later, on July 23, he was found dead, having been hit by a train near his chalet in Gstaad. His lawyer confirmed that he had committed suicide, just two days after his 67th birthday.
Where are Hermès shares?
For decades, the Hermès shares in Puech’s name have been considered one of the most important parts of the company’s shareholding structure, which is over 65% owned by the family. However, since 2015, Hermès has stopped mentioning his share in its annual reports, a signal that the company has serious doubts that he no longer owns them.
Furthermore, Puech had previously stated that he would leave the shares to the Isocrates charitable foundation, but then changed his mind, requesting that they be passed on to his personal guardian Jadil Butrak, a Moroccan who had helped him for years. There was even talk of an attempted adoption, to make him the official heir.
In another bizarre twist, in 2023, lawyers associated with Freymond attempted to sell the shares to the Qatari royal family, in a deal that ended in a lawsuit in Washington. But when the time came to deliver, the Qatari side was told the shares “could not be found.” Lacking documentation and physical shares, the buyer sought $1.3 billion in damages.
The fight for the legacy of French luxury
Hermès is one of the most powerful luxury brands in the world. Products like Birkin bags, which cost over 10,000 euros, have become symbols of extreme wealth and lasting stability. But as this story shows, even within this luxurious universe, there are family divisions, secret games and great betrayals.
Puech, a reserved man who has withdrawn from public life, appears to have fallen victim to a complex web of relationships and financial manipulation. But the scandal is not just personal. It has raised serious questions about the ownership structure and transparency of information at one of France's most powerful public brands.
Today, as the Hermès family, the company and financial institutions try to resolve this impasse, the fundamental question remains: where are the 6 million lost Hermès shares? / Taken with abbreviations from “The Economist”
Lini një Përgjigje