Queen of cosmetics looses money on Madoff

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The Queen

The french queen of cosmetics, Liliane Bettencourt, who is the world’s 17. richest woman is alo one of the victims of Bernard Madoff”s scam. She did as an only child inherried the money after her farther, Eugéne Schueller, who inventet a new way of colloring hair. He founded L’oreal back in the days.

Was adviced to invest by Madoff

Liliane Bettencourt was adviced by her financial advisor to invest part of her money at Bernard Madoff’s swindling company. The financial advisor Thierry Magon de La Villehuchet, was found death in he office in New York the day before Christmas. He had killed himself when he found out that he had advised Madame Bettencourt to do business with the devil og business.

Gave art away for more than 1 billion dollars

There is however no reason to feel bad for the queen of conmetics, as she recently gave art and other things that all together adds up to over 1 billion dollars away to a french fotographer. Her daughter was not pleased by this action. I bet she will be even less pleased to learn that even more of the family fortune has been lost on Madoff.

Written by admin

december 29th, 2008 at 9:36 pm

Posted in business

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