The Economic Times

LVMH signed a secret 2002 pact to buy Hermes heir's shares. Now he says his fortune is missing

Luxury giant LVMH signed a secret 2002 agreement to buy Hermes shares from Nicolas Puech. The company also paid his wealth manager over twenty million dollars in fees. Puech alleges his fortune vanished through schemes involving his late wealth manager. LVMH denies any attempt to acquire Puech's stake against his will. This revelation raises questions about LVMH's past denials and the missing shares.