PARIS—It took years to discover that a Hermès fortune was missing. Years of additional legal proceedings have yet to untangle who is to blame. Nicolas Puech, the Hermès heir, filed a lawsuit last year valuing his alleged losses at more than $15 billion and naming his former wealth manager, luxury group LVMH and its chief executive, Bernard Arnault, among the defendants. Meanwhile, prosecutors in Paris are conducting a probe into the matter and recently said they put under formal investigation three lawyers, including an attorney who worked for LVMH more than a decade ago when it was buying up Hermès…

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