Grandmother tried to spite heirs by shredding €950,000 fortune

Ripped Euros

Grandmother tried to spite heirs by shredding €950,000 fortune

Some grandchildren must have really annoyed their grandmother - a court heard that an Austrian woman destroyed her nearly one million euro fortune to spite her heirs.

The 85-year-old woman shredded the €950,000(£684,328) fortune, and also cut up savings accounts books before her death in a retirement home.
However, she did not win this battle. The country's central bank has pledged to
replace the money she destroyed.
The cut up money and books were only discovered after she died, a court heard.

"If we didn't pay out the money then we would be punishing the wrong people."
Friedrich Hammerschmidt
State prosecutor Erich Habitzl confirmed the discovery but said there was nothing he could do for the relatives.
He said: "The damage of the money in the woman's property is not a criminal matter, so we have not begun any investigation."
Instead, the country's bank said that it will replace the money.
Friedrich Hammerschmidt, the deputy head of the country's central bank's cashier division, the Oesterreichische Nationalban, told local newspaper Kurier Daily: "If the heirs can only find shreds of money and if the origin of the money is assured, then of course it can all be replaced.
"If we didn't pay out the money then we would be punishing the wrong people."

According to the European Commission's Recommendation: "Member states must not prohibit or punish the complete destruction of small quantities of Euro coins or notes when this happens in private. However they must prohibit the unauthorised destruction of large amounts of Euro coins or notes."
In addition, "Member states must not encourage the mutilation of Euro notes or coins for artistic purposes, but they are required to tolerate it. Mutilated coins or notes should not be considered unfit for circulation."
However, these grandchildren are lucky that they are due to be reimbursed - the European Central Bank has established that "Member states may refuse to reimburse Euro money that has been deliberately rendered unfit for circulation, or where it has been caused by a process that would predictably have led to the money becoming unfit.