manufacturer in France, eventually becoming a respected manufacturer, family man, and French citizen. He turned over management of the prosperous firm to his sons and died at his vacation home in Cannes on February 13, 1960. Hennies fled to Germany and reappeared later under his real name, Hans Döring. He lived high for some time but eventually lost much of his wealth on poor investments. Turning over all his assets to a trusted friend, he later found it impossible to reclaim them and lived in near poverty. On August 29, 1936, he died in disputed circumstances while in a Berlin hospital. Repercussions Reis's fraud had enormous repercussions on the economy and politics of Portugal. By the end of 1925, Reis had managed to introduce escudo banknotes worth £1,007,963 (at 1925 exchange rates: £ in modern pounds) into the Portuguese economy. The exchange rate of the Portuguese escudo fell and it lost much of its credibility. After the scheme was found out, the Bank of Portugal ordered the withdrawal of all 500 escudo banknotes within 20 days; by 26 December 115,000 counterfeit notes were withdrawn. When Reis's fraud became public knowledge in December 1925 it brought about a crisis of confidence in the Portuguese government. Although events of this period are still little understood, this crisis had a strong effect on the nationalist military 28th May 1926 coup d'état against the Portuguese First Republic government and President Bernardino Machado that brought the Ditadura Nacional (National Dictatorship) to power, heralding the Estado Novo dictatorship from 1926 to 1974, with António de Oliveira Salazar ruling from 1932 to 1968. Banco de Portugal sued Waterlow & Sons in the High Court in London. In one of the most complex trials in English legal history, the case was finally settled in the House of Lords on 28 April 1932 in favour of the Banco de Portugal, which was awarded £610,392 in damages. Waterlow & Sons' business never completely recovered; it was finally acquired by De La Rue in 1961. Sir William Waterlow had been dismissed as president of the printing house and was elected Lord Mayor of London in 1929. He died of peritonitis on 6 July 1931 before the final judgment of the House of Lords. In popular culture The fraud was the subject of the 1974 Italian TV miniseries Accadde a Lisbona ("It happened in Lisbon"); Reis was played by Paolo Stoppa. It