Assistant to Hermès Heir Accused of Stealing $13 Billion
A Major Fraud Scandal
Airmail has published an investigative report detailing how Hermès heir Nicolas Puech and other wealthy individuals lost their fortunes to financier Eric Freymond.
In 1998, Nicolas Puech — a fifth-generation descendant of Hermès founder Thierry Hermès — entrusted the management of all his shares and investments to financier Eric Freymond. According to Puech, his family had full confidence in the asset manager, which is why he paid little attention for years to what was happening to his multibillion-dollar fortune.
However, in 2022, it suddenly emerged that one of the Forbes-listed billionaires, Nicolas Puech, had virtually no money or shares left in his accounts. The 83-year-old heir, who never started a family, had intended to reward his gardener by bequeathing him part of his $13 billion fortune — but was ultimately unable to do so.
Subsequent investigations revealed that, instead of managing his client’s assets, Eric Freymond had been systematically selling them off over the years. As it turned out, Puech was not his only victim. Swiss actress Ursula Andress had entrusted the financier with $25 million — only to be left with nothing as well.
When Freymond realized that his scheme had been uncovered, he took his own life. After his death, it emerged that he had always dreamed of becoming immensely wealthy, and in pursuit of that ambition married into an influential Geneva family, wedding Caroline van Berchem. According to the publication’s sources, it was members of the van Berchem family who introduced Freymond to the Hermès circle.
It is worth recalling that in 2014, under pressure from other family members, Nicolas Puech stepped down from the supervisory board of Hermès — the fashion house renowned for its exceptional leather goods, including the iconic Birkin bags, coveted by fashion enthusiasts worldwide. At the time, Puech opposed the potential takeover of the brand by the LVMH group and left the company, retaining a 5% stake — shares that were later sold off by Freymond.
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