
Innsbruck Regional Court imposes an additional two-year sentence; Judgment not final
AI-generated summary
René Benko developed the Signa Group into a brand for real estate in exclusive inner-city locations over around 20 years. The entry into stationary retail at Kaufhof and Karstadt, rising interest rates, lost trust from the banks and management errors led to bankruptcy. Further investigations into the collapse of the Signa Group are ongoing in Austria and other countries, including Germany.
The Austrian investor and ex-billionaire René Benko has been convicted of serious fraud in a new trial. The Innsbruck regional court considered it proven that the founder of the Signa Group had damaged an investor by five million euros, as the newspapers “Der Standard” and “Kurier” reported. The verdict is not yet final.
According to “Standard” and the Austrian news agency APA, the ex-billionaire received an additional sentence of two years. This extends a previous sentence of two and a half years in prison, which was imposed in a previous trial for damaging creditors.
The court followed the prosecution's statement that Benko defrauded the private foundation of the industrialist Hans Peter Haselsteiner by giving the investor a "false guarantee" to settle the million-dollar sum. The founder of the real estate and trading group Signa and the ex-head of the construction group Strabag had close business ties for years.
The 49-year-old defendant denied the allegations. As a witness, Haselsteiner, however, emphasized the importance of the guarantee. He was asked for five million euros - and he would not have made it available without Benko's promise, he explained.
The Signa founder was acquitted on a second charge. The court did not consider it proven that he had hidden a luxury hunting rifle worth 80,000 euros from creditors.
Benko appeared at his most recent trial wearing an ankle bracelet. He is in custody, but he has been allowed to spend it in a private apartment since mid-October. Further investigations against Benko surrounding the collapse of the Signa Group are still ongoing in Austria and other countries, including Germany.
Over the course of around 20 years, Benko had expanded the Signa Group into a well-known brand for real estate in exclusive inner-city locations. The entry into stationary retail at the German department store chains Kaufhof and Karstadt, rising interest rates, lost trust from the banks and management errors ultimately drove Signa into bankruptcy.
AI outlook — possibilities, not facts
The ruling is likely to be appealed because it is not yet legally binding.
Likely · Within weeks
Further investigations against Benko surrounding the Signa collapse are continuing.
Very likely · Within months

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Ex-billionaire René Benko will appear before the Innsbruck regional court on Wednesday on suspicion of serious fraud. According to the indictment, he is said to have defrauded the private foundation of the industrialist Hans Peter Haselsteiner of around five million euros. Haselsteiner has been called as a witness. Benko has been allowed to serve his pre-trial detention with an ankle bracelet in a private apartment since mid-October.