Marthe Hanau
Encyclopedia
Marthe Hanau was a Frenchwoman
who defraud
ed French financial markets in the 1920s and 1930s.
Marthe Hanau was born in Lille
to a Jewish family of an industrialist. She married, and later divorced Lazare Bloch. In 1925, she and Bloch (the two remained business partners after the divorce) founded an economic newspaper, La Gazette du Franc et des Nations.. Hanau used the newspaper to dispense stock
tips to financial speculators.
Hanau's paper promoted mainly the stocks and securities of her own business partners, whose businesses were mere shells or paper companies. Still the value of their stock kept rising when stockbrokers bought and traded them. Hanau expanded her investing advice network and later formed her own financial news agency Agence Interpresse. She even released short-term Bond
s that promised 8% interest.
This time French banks and Agence Havas, the rival financial news agency, turned against her. Banks began to investigate the non-existent companies and soon there were numerous rumors about Hanau's shady business practices. At first, Hanau managed to quell the rumors by bribing
cooperative politicians.
However, when charges continued to swirl around her, police arrested Hanau, Bloch, and many of their business partners on 17 December 1928. They were charged with fraud and confined in St. Lazare prison. By that time her investors had lost approximately 120,000,000 contemporary French franc
s.
The preliminary trial began 15 months later. Hanau protested that the court did not understand financial business, that she could return all the money, and that she should be released on bail
. When court denied the bail, she went on a hunger strike
.
Three weeks later, Hanau was moved to Cochi hospital in Neuilly
, where she was forcibly fed. When she was left alone, she made a rope out of bedsheets, climbed out of the window and returned to St. Lazare prison. Police chief Chiappe
was afraid that she would die in his hands and requested that she be released on bail. She was moved to a hospice, where she still announced that she would return all the money. Not everybody believed her.
Her trial began in earnest on 20 February 1932. During the trial Hanau revealed the names of all the politicians she had bribed and caused a scandal. Hanau received two years in prison, but the court credited her with the 15 months she had already spent in prison. Bloch received 18 months and their other partners were released with fines.
When Hanau was released later in the year, she bought the Forces magazine. In April 1932. she published an article about the shady side of the financial markets — and quoted a Sûreté
file about herself. Police arrested her but she refused to reveal who had leaked the file, just that it had been taken from the financial minister Flandin. She was sentenced to 3 months in prison for receiving classified information. She appealed but when the appeal was rejected, she fled. She was soon arrested and put into prison.
Marthe Hanau committed suicide
on 19 July 1935 by taking an overdose of sleeping pills.
A French movie, "La Banquière" (The Woman Banker), by Francis Girod
, was made in 1980, starring Romy Schneider
as "Emma Eckhert", a thin disguise for Marthe Hanau.
France
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
who defraud
Fraud
In criminal law, a fraud is an intentional deception made for personal gain or to damage another individual; the related adjective is fraudulent. The specific legal definition varies by legal jurisdiction. Fraud is a crime, and also a civil law violation...
ed French financial markets in the 1920s and 1930s.
Marthe Hanau was born in Lille
Lille
Lille is a city in northern France . It is the principal city of the Lille Métropole, the fourth-largest metropolitan area in the country behind those of Paris, Lyon and Marseille. Lille is situated on the Deûle River, near France's border with Belgium...
to a Jewish family of an industrialist. She married, and later divorced Lazare Bloch. In 1925, she and Bloch (the two remained business partners after the divorce) founded an economic newspaper, La Gazette du Franc et des Nations.. Hanau used the newspaper to dispense stock
Stock market
A stock market or equity market is a public entity for the trading of company stock and derivatives at an agreed price; these are securities listed on a stock exchange as well as those only traded privately.The size of the world stock market was estimated at about $36.6 trillion...
tips to financial speculators.
Hanau's paper promoted mainly the stocks and securities of her own business partners, whose businesses were mere shells or paper companies. Still the value of their stock kept rising when stockbrokers bought and traded them. Hanau expanded her investing advice network and later formed her own financial news agency Agence Interpresse. She even released short-term Bond
Bond (finance)
In finance, a bond is a debt security, in which the authorized issuer owes the holders a debt and, depending on the terms of the bond, is obliged to pay interest to use and/or to repay the principal at a later date, termed maturity...
s that promised 8% interest.
This time French banks and Agence Havas, the rival financial news agency, turned against her. Banks began to investigate the non-existent companies and soon there were numerous rumors about Hanau's shady business practices. At first, Hanau managed to quell the rumors by bribing
Bribery
Bribery, a form of corruption, is an act implying money or gift giving that alters the behavior of the recipient. Bribery constitutes a crime and is defined by Black's Law Dictionary as the offering, giving, receiving, or soliciting of any item of value to influence the actions of an official or...
cooperative politicians.
However, when charges continued to swirl around her, police arrested Hanau, Bloch, and many of their business partners on 17 December 1928. They were charged with fraud and confined in St. Lazare prison. By that time her investors had lost approximately 120,000,000 contemporary French franc
Franc
The franc is the name of several currency units, most notably the Swiss franc, still a major world currency today due to the prominence of Swiss financial institutions and the former currency of France, the French franc until the Euro was adopted in 1999...
s.
The preliminary trial began 15 months later. Hanau protested that the court did not understand financial business, that she could return all the money, and that she should be released on bail
Bail
Traditionally, bail is some form of property deposited or pledged to a court to persuade it to release a suspect from jail, on the understanding that the suspect will return for trial or forfeit the bail...
. When court denied the bail, she went on a hunger strike
Hunger strike
A hunger strike is a method of non-violent resistance or pressure in which participants fast as an act of political protest, or to provoke feelings of guilt in others, usually with the objective to achieve a specific goal, such as a policy change. Most hunger strikers will take liquids but not...
.
Three weeks later, Hanau was moved to Cochi hospital in Neuilly
Neuilly
Neuilly is a common place name in France, deriving from the male given name Nobilis or Novellius:...
, where she was forcibly fed. When she was left alone, she made a rope out of bedsheets, climbed out of the window and returned to St. Lazare prison. Police chief Chiappe
Jean Chiappe
Jean Baptiste Pascal Eugène Chiappe was a high-ranking French civil servant.Chiappe was director of the Sûreté générale in the 1920s. He was subsequently given the post of Préfet de police in the 1930s, in which role he was very popular...
was afraid that she would die in his hands and requested that she be released on bail. She was moved to a hospice, where she still announced that she would return all the money. Not everybody believed her.
Her trial began in earnest on 20 February 1932. During the trial Hanau revealed the names of all the politicians she had bribed and caused a scandal. Hanau received two years in prison, but the court credited her with the 15 months she had already spent in prison. Bloch received 18 months and their other partners were released with fines.
When Hanau was released later in the year, she bought the Forces magazine. In April 1932. she published an article about the shady side of the financial markets — and quoted a Sûreté
Sûreté
Sûreté is a term used in French speaking countries or regions in the organizational title of a civil police force, especially the detective branch thereof.-France:...
file about herself. Police arrested her but she refused to reveal who had leaked the file, just that it had been taken from the financial minister Flandin. She was sentenced to 3 months in prison for receiving classified information. She appealed but when the appeal was rejected, she fled. She was soon arrested and put into prison.
Marthe Hanau committed suicide
Suicide
Suicide is the act of intentionally causing one's own death. Suicide is often committed out of despair or attributed to some underlying mental disorder, such as depression, bipolar disorder, schizophrenia, alcoholism, or drug abuse...
on 19 July 1935 by taking an overdose of sleeping pills.
A French movie, "La Banquière" (The Woman Banker), by Francis Girod
Francis Girod
Francis Girod was a French film director, actor and screenwriter. He directed 20 films between 1974 and 2006. His film L'enfance de l'art was entered into the 1988 Cannes Film Festival...
, was made in 1980, starring Romy Schneider
Romy Schneider
Romy Schneider was an Austrian-born German film actress who also held French citizenship.-Early life:Schneider was born Rosemarie Magdalena Albach in Nazi-era Vienna, six months after the Anschluss, into a family of actors that included her paternal grandmother Rosa Albach-Retty, her Austrian...
as "Emma Eckhert", a thin disguise for Marthe Hanau.