Austria: Signa Founder Benko Wants to Continue Custody with a Shackle
He will remain under electronic monitoring and face a new fraud trial next month, with prosecutors alleging €5 million in harm.
- On Wednesday, an Austrian court granted former property tycoon Rene Benko release to electronically monitored house arrest after he served two-thirds of his 30-month insolvency-fraud sentence. Benko will move to a roughly 60-square-metre apartment in Innsbruck to prepare for his upcoming trial.
- Benko founded the Signa property group, which once controlled luxury assets including the Chrysler Building in New York and five-star hotels in Venice and Vienna. Prosecutors estimate total harm from the group's collapse at $1.7 billion, and Benko has faced two previous fraud convictions.
- "It was ordered that investigative detention be continued as electronically monitored house arrest," the court in Innsbruck said. Conditions include no contact with anyone related to Signa, as the upcoming trial focuses on an alleged false guarantee causing €5 million in harm.
- Lawyer Norbert Wess confirmed a roughly 60-square-metre apartment was rented for Benko in Innsbruck. This relocation allows the former billionaire to better prepare for his aggravated-fraud trial while remaining under strict electronic monitoring.
- Investigations into a range of potential crimes continue as legal proceedings advance following the Signa property group's collapse. These cases remain the central backdrop to the search for creditor accountability as prosecutors estimate total harm at $1.7 billion.
58 Articles
58 Articles
Former real estate investor Benko comes out of custody free and is put under house arrest with an electronic shackle.
osthessen-news.de
A few weeks ago, René Benko was sentenced to two and a half years in prison for damage to his creditors. At the same time, he spent many months in custody.Now he gets a relief.The real estate investor René Benko moves from prison to house arrest with a shackle.A corresponding application from the founder of Signa was granted by the Landesgericht Innsbruck, as a judge of the German Press Agency announced.His lawyer had argued that Benko could onl…
The convicted real estate investor René Benko is allowed to leave the prison. Innsbruck Regional Court approved his application for a shackle.
Sentenced Signa founder René Benko is allowed to leave prison. Innsbruck Regional Court approved his application for a shackle.
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