René Benko faces new court proceedings and fraud allegations

René Benko, the insolvent real estate mogul, faces renewed legal proceedings in Austria. The Supreme Court of Justice (OGH) has overturned a partial acquittal regarding a €360,000 rental advance for a villa in Innsbruck, ruling that the payment provided “no value” for creditors. The case has been remanded to the Innsbruck Regional Court, which must now reconsider the verdict and the severity of the sentence.

In a separate development, an investigative report from the Economic and Corruption Prosecutor's Office (WKStA) alleges that Benko acted as the sole decision-maker within the Signa empire. Despite holding no official function in Signa Holding, investigators claim Benko personally directed a €350 million capital increase in June 2023. Evidence from millions of analyzed emails suggests Benko communicated directly with major investors to finalize agreements, bypassing official managing directors.

Furthermore, the WKStA alleges that Benko may have used funds from deceived shareholders to masquerade as his own €35.35 million contribution to the capital increase. Benko is also expected to face additional charges in October involving allegations of serious fraud and fraudulent bankruptcy related to guarantees given to Hans Peter Haselsteiner.