Vienna: Supreme Court upholds prison sentence against property developer Benko
Former Signa founder René Benko must serve prison time for insolvency fraud. A separate allegation will require a new trial.
Vienna: Supreme Court upholds prison sentence against property developer Benko
The Supreme Court of the Republic of Austria upheld part of the judgment against former real estate investor René Benko last Thursday. The 49-year-old businessman had previously been sentenced to two years in prison for insolvency fraud. A separate charge for which he had been acquitted must now be retried.
These cases represent the first criminal consequences of the collapse of the Signa Group, which Benko had founded. The company once held significant stakes in high-profile property and retail enterprises worldwide, including the Chrysler Building in New York and the British luxury department stores Selfridges. Signa's bankruptcy in autumn 2023 represents the largest insolvency case in Austrian history. The public prosecutor's office assumes that alleged crimes in connection with the insolvency have caused damage of approximately 1.5 billion euros.
The now final conviction concerns a money transfer of 300,000 euros to the defendant's mother. This transaction took place at a time when the Signa Group was already experiencing significant financial difficulties. The prosecuting authority suspected this was an attempt to shield funds from creditors. Benko continues to deny this allegation.
In contrast, the Supreme Court ordered a retrial for a separate charge. This concerns whether an initial payment of 360,000 euros and further payments for a residential building in Innsbruck also served to conceal assets from creditors. Should Benko also be found guilty on this count, the trial court will have to impose a new combined sentence.
The defendant's lawyer, Thomas Pillichshammer, expressed confidence after the five-judge panel's decision that he would secure an acquittal in the forthcoming second trial. He announced new defence arguments but declined to elaborate on them. Benko himself did not appear at the appeal hearing and denies all guilt.
Source: Boursorama
Source: Google News MA — Crime (fr)