Posted Sep 07, 2010 11:22 pm CDT
A battle between an elderly heiress to the l’Oreal cosmetics fortune and her estranged daughter for control of the mother’s finances has exploded into a series of investigations concerning possible money laundering and tax evasion and questionable political contributions.
But rather than being a potential target of the probe, heiress Liliane Bettencourt, 87, is considered a possible victim, reports Reuters. If she owes taxes, Bettencourt has said, she will pay.
The news agency was unable to confirm a report by a Swiss daily newspaper that two law firms in Geneva might be a focus of the investigation, which concerns the management of Bettencourt’s assets.
Her daughter, Francoise Bettencourt-Meyers, contends that Bettencourt is no longer able to manage her fortune of $22 billion.
ABAJournal.com: “Report: DA’s Office Is Probing Finances of Heiress, 104; Lawyer & Accountant Handle Her $500M Assets”
New York Daily News: “Huguette Clark’s lawyer fires back at relatives who want him ousted”