The European and American press is roiling with a story about a billionaire heiress and her sex trysts with an Italian gigolo, which ended in a $60 million blackmail plot.

She is Susanne Klatten, a 45-year-old German heiress. The married mother of three is one of the richest women in the world. Her inherited wealth comes from BMW and the chemical giant, Altana.

Susanne met with one Helg Sgarbi in Munich and in hotels in Monte Carlo. But he was having their romantic interludes videotaped by a friend. He threatened to go public with the films.

Susanne did not go to the cops until Mr. Sgarbi asked for the above-named millions. He said either she paid or he’d blackmail her. He has now been jailed in Germany and his accomplice was arrested by Italy’s Flying Squad in Pescara on the Adriatic coast.

Bravo to Susanne for not letting herself be blackmailed. But what I’m asking is this: What kind of charms did the perfectly ordinary-looking Mr. Sgarbi have that caused Susanne originally to give him about $15 million? Simply because he told her he was being threatened by the American mafia and needed to pay protection money?

She didn’t balk at $15 million. When he went up to $60 million, she came to her senses. (Even a well-satisfied woman has to draw the line somewhere!)

The criminals, now in jail charged with extortion, have an excuse, don’t you know? They claim Susanne’s money came from her father’s collaboration with Hitler and they were only seeking revenge, not money.

Oh, please!  It sounds like all these people deserve each other.  

Click here on this text to read my New York Post column.