Eric Arnoux is a showy French promoter living in Geneva, often seen driving a black Ferrari and enjoying Geneva's top restaurants.
Early in his career, he became known as a real estate developer in France, especially in the fancy ski resort of Megève, by taking part in multiple companies and development projects.
After several bankruptcies and a serious criminal procedure for having exploited undocumented migrants on one of his development site in Megève, Eric Arnoux flew to Switzerland where he settled in a sumptuous villa on the shores of Lake Geneva.
His creditors eventually followed him and started collection procedures in Geneva, now amounting over 30 mio Swiss francs, a possible record for the Swiss canton.
Despite his dire financial situation, Eric Arnoux, who is unquestionably a fine strategist, transferred his wealth to several shell companies and went on promoting new projects.
However, it looks like the party is nearing its end.
Indeed, it appears that his latest projects in the Swiss Alps, with Belgium partner Thierry Dubuisson, are on the brink of collapse.
Located in the ski resorts of Grimentz, Valais, the two projects, Hameau des Bains and Hotel Inalp, totaling investments over 150 mio Swiss francs, are stalled since local authorities and early investors, including British citizens, raised important questions regarding the financial capabilities of promoters Arnoux and Dubuisson.
This situation is a real step backward for Eric Arnoux, who could have re-established his reputation and make profits out of the ambitious projects.
Instead, old creditors, recent investors and partners are claiming their money back, bringing Arnoux’s new chance to conquer the Alps to an abrupt end.