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Ruling nears in Austrian fraud trial of property tycoon Benko
- On Tuesday, René Benko pleaded not guilty at the Innsbruck State Court, denying wrongdoing and refusing to answer further questions in the first charges of a wide investigation.
- The debt-laden Signa conglomerate, built since 2000, imploded in 2023 in Austria's largest insolvency, with prosecutors investigating more than a dozen suspects and damages around 300 million euros.
- Prosecutors say Benko concealed an alleged sum of 660,000 euros, including gifts to Benko's mother and 11 luxury watches, watch straps and cufflinks worth 370,000 euros in a relative's safe.
- On day two, the Innsbruck State Court could move rapidly toward sentencing, with 14 cases pending and Benko facing a potential sentence between one and 10 years.
- Creditors in the United Arab Emirates and Thailand claim billions from Signa, whose former holdings included New York's Chrysler Building and major European department store chains.
102 Articles
102 Articles
On the second day of the trial against the fallen Immo-Pleitier René Benko, there were witnesses' interviews on the program. In the early afternoon, the much awaited verdict was handed down in Tyrol: a verdict of guilt and acquittal. The 48-year-old takes note of the verdict with a rigid and empty glance. Once guilty, once acquittal – this is announced by Judge Andrea Wegscheider on Wednesday at 13.57 in the fully-occupied Schwurgerichtssaal in …
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Asia OneSigna founder Rene Benko guilty of insolvency-related fraud
Austrian prosecutors allege the property tycoon hid funds from creditors
The flamboyant Austrian businessman René Benko, once co-owner of the Bijenkorf department store, has been sentenced to two years in prison in Innsbruck for bankruptcy fraud. This first case since the collapse of his real estate empire is just the beginning.
The Innsbruck Regional Court partially found the real estate entrepreneur René Benko guilty of insolvency proceedings. He was sentenced to two years in prison for damage to his creditors.
It was only a short trial of two days - a small criminal excerpt from the many investigations against René Benko. But it is the first verdict against the ex-billionaire.
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