Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Friday, August 28, 2009

French Tribunal Will Determine if L'Oreal Heiress was Exploited

Bettencourt Liliane Bettencourt, the daughter of L'Oreal founder and the richest woman in Europe, is the center of a criminal expoitation investigation in France. The details are as follows:

  • Bettencourt met Fracois-Marie Banier, a celebrity photograher, over 20 years ago.
  • Although estimates differ, Bettencourt appears to have given Banier at least $1.35 billion dollars through gifts, by naming him the beneficiary of life insurance policies, and by promising him artworks upon her death since meeting him.
  • Bettencourt's daughter prompted an investigation of Banier when she filed a criminal complaint alleging that Banier was manipulating her mother for financial gain.
  • Bettencourt, who is 86, has refused the investigating judge's request for neurological examinations and has asked the French president to intervene.
  • Banier will soon face criminal exploitation charges in a French court.

For more information, see Doreen Carvajal, Generous to a Fault?, NY Times, Aug. 21, 2009.

https://lawprofessors.typepad.com/trusts_estates_prof/2009/08/french-tribunal-will-determine-if-loreal-heiress-was-exploited.html

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