Investor: René Benko comes out of prison - and now has to wear an ankle bracelet

The Signa founder was only put behind bars in September, but now he is allowed to leave prison. Benko's defense attorney justifies the step with better preparation for further trials.

Innsbruck. Former real estate investor René Benko, convicted of fraud, moves from prison to house arrest with an ankle bracelet. A corresponding application from the Signa founder was granted by the Innsbruck regional court, as a court spokeswoman told the German Press Agency.

Benko's defense attorney Norbert Wess had previously justified the step with the need for better preparation for upcoming further trials. For this purpose, an approximately 60 square meter apartment was rented in Innsbruck, also to protect Benko's family environment.

Benko was only sentenced to two and a half years in prison in September. The Innsbruck regional court considered it proven that the 49-year-old had damaged his creditors.

Court case over money carousel when renting a villa

Specifically, it was about the accusation that Benko had paid 360,000 euros in advance rent costs for another residence, even though he was on the verge of bankruptcy in autumn 2023. The villa was initially uninhabitable due to a landslide. Nevertheless, Benko paid the rent and operating costs for four years in advance.

The villa belongs to a company belonging to the private foundation Laura, named after Benko's daughter. The public prosecutors considered the advance payment to be economically and objectively unreasonable. The funds for the advance payment are said to have come from the Laura private foundation and ended up there again via a money carousel.

Benko had already been sentenced to two years in prison in October 2025 on this suspicion. He was acquitted in one aspect regarding an advance payment of rent costs. However, the Supreme Court overturned this acquittal. Therefore, negotiations had to be held again and the amount of the penalty had to be redetermined.

Benko has been in custody since January 2025. He had built up a billion-dollar fortune with his real estate and trading empire Signa. Rising interest rates and construction costs as well as risky acquisitions such as those of the German department store groups Karstadt and Kaufhof drove Signa into bankruptcy at the end of 2023.