Luxury heir claims his $13 billion Hermès fortune has vanished
The news of a luxury heir claiming his $13 billion Hermès fortune has vanished is a shock to many, including myself. It’s hard to wrap my head around how such a vast sum of money could simply disappear over a couple of decades. The fact that the alleged fraud was undetectable to common mortals adds an air of mystery to the situation.
While I may not be the most sympathetic towards billionaires, it does raise questions about the level of trust placed in financial advisors and the risks involved in giving them complete discretion over accounts. Signing blank documents and handing over control of bank accounts seems like a risky move, one that ultimately led to the loss of billions of dollars.… Continue reading
John Q. Hosedrinker