US EditionAustrian ex-tycoon Benko found guilty of hiding luxury watches from creditors
Benko received a 15-month suspended sentence for hiding €370,000 in assets from creditors during Signa Holding’s 2023 insolvency; his wife was acquitted of all charges.
- On Wednesday, Austrian ex-magnate Rene Benko received a 15-month suspended prison sentence for fraud, marking his second conviction in three months in Innsbruck.
- Prosecutors allege Benko and his wife hid cash, watches and jewellery worth 370,000 in a relative's safe to shield assets from creditors claiming billions.
- Benko denies wrongdoing and pleaded not guilty, and prosecutors say he was acquitted on a charge over an alleged €360,000 villa advance.
- Benko remains in custody following his arrest at his Innsbruck villa, while his wife was acquitted on all charges due to reasonable doubt.
- Signa's property portfolio once included the Chrysler Building, New York, and prominent European department stores, while Benko was once among Austria's wealthiest figures with ties to Sebastian Kurz.
44 Articles
44 Articles
Austrian ex-tycoon Benko found guilty of hiding luxury watches from creditors
Austrian ex-property tycoon Rene Benko was found guilty of insolvency fraud on Wednesday for hiding valuables from creditors, including two luxury watches and cuff links found in a safe, his second conviction on that charge.
Insolvent Austrian investor Benko has been convicted for the second time for damage to his creditors.
The second trial against René Benko also ended with a conviction. It was about the question whether the ex-billionaire and his wife wanted to remove valuable jewellery shortly before the insolvency, and this in a rather plump way.
Investor Benko has been given a suspended sentence for defrauding creditors; his wife was acquitted. The trial centered on allegations that he had hidden valuables with relatives.
Coverage Details
Bias Distribution
- 44% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
