Here is the story of how one man single-handedly stole over $1 billion worth of artwork (think Picasso and Monet), insurance policies, real estate, and cash over twenty years from L’Oréal heiress Liliane Bettencourt.
In December 2007, Liliane’s daughter, Françoise Bettencourt Meyers, filed a suit against one of her mother’s closest companions, François-Marie Banier. Over the past eight years, a battle of “investigations, legal wrangling, charges, and countercharges” have occurred.
A manipulator who abused her generosity and failing mental health while conspiring to make himself her sole and unique heir.
Meyers alleged that Banier had “taken advantage of her mother’s declining mental faculties to bully and cajole her into lavishing extravagant gifts on him”. Yesterday, Banier was sentenced to three years in prison, a fine of €350 000, and damages of €158 million. A further seven men were also found guilty, in what has become known as the Bettencourt affair (there’s even going to be a book out soon). Turns out Liliane’s chief financial advisor, and close business associates were also all involved in the “immense political and financial soap opera” – France’s former president Nicolas Sarkozy is also going to be investigated.
Thankfully, court-appointed doctors proved that Liliane had “shown signs of mental confusion since at least 2006”, whilst Banier argued that Liliane had made all the gifts of her own free will. She may have, but if you’re living with Alzheimer’s then you probably aren’t making the best decisions about some things.
Liliane Bettencourt, now 92, is Europe’s richest woman, and the second richest in the world, with a fortune worth some $40 billion.
[Source: Vanity Fair]
