The police raided the house of L’Oreal SA’s major shareholder Liliane Bettencourt. The police suspect that L’Oreal heiress has given one of her friends, Mr. Banier gifts worth 1 billion Euros, which is 1.3 billion Dollars. The police has also searched Mr. Banier’s house.

Liliane, who is 87 years old and is the richest businesswoman in France, mentioned in an e-mail that the police entered her house forcefully and started searching her staff’s rooms.

On the other hand, the French authorities are also criticized for being lenient toward Mrs. Bettencourt, who is not paying taxes properly.

It is said that Mrs. Bettencourt has gifted Mr. Banier huge cash, some masterpiece paintings, and insurance policies. She even gifted him an island in the Seychelles.

When the police raided her house, she was staying at her another house in the French countryside.

Mrs. Bettencourt’s daughter, Francoise Bettencourt-Meyers is very upset with the whole matter and has accused Mr. Banier for taking advantage of her mother’s poor mental state in order to get hold of major shares of her big empire.

Bank of France’s Prudential Control Authority is investigating whether an anonymous French bank, where Mrs. Bettencourt has an account, properly checked all her withdrawals.