René Benko in crisis mode: Justice hears amidst acoustic disturbances!

René Benko in crisis mode: Justice hears amidst acoustic disturbances!

The headlines in the Austrian economy are currently not calming down. René Benko, the 47-year-old founder of Signa Holding, is deep in a complicated web of allegations and investigations. The once celebrated investor, known for the symbolic takeover of Karstadt in 2014, has been in custody since January 24, 2023. Recently, on June 11, 2023, an interrogation of the accused took place in the Vienna-Josefstadt correctional facility, during which Benko was to be questioned about possible asset transfers, in particular about the transfer of six luxury villas on Lake Garda to the INGBE Foundation in Liechtenstein. The report from crown describes how the interrogation was affected by acoustic problems.

A major topic in the investigations by the Economic and Corruption Public Prosecutor's Office (WKStA) are the allegations regarding a comprehensive fraud and breach of trust complex. Benko is suspected of not only using a so-called money carousel to entice shareholders to make further investments, but also of faking his own contributions. This is just one of four major complexes that the WKStA is investigating, as detailed in the report by the daily news can be read.

Extensive investigations

Overall, Benko and his companies are under investigation in several European countries, including Austria, Italy, Liechtenstein and Germany. The allegations are serious and range from mafia structures to money laundering and delaying insolvency. The public prosecutor's office in Berlin is investigating several cases of fraud and breach of trust, while the Munich I public prosecutor's office has also focused on Benko's machinations. It looks like the air is getting thin for one of the most important players in the European investment business.

In addition to the ongoing investigation, Benko is also confronted with suspicion that puts him in the spotlight as the leader of a mafia-like organization. In Italy, 77 people are already involved in the investigation, while the WKStA sees a high risk of darkening the evidence. Differences in the areas of activity of the investigations are clearly visible, as they are not only limited to Benko's behavior, but also want to uncover the structures and those involved behind them.

A shadow on the economy

A study by KPMG on white-collar crime also sheds light on the topic and shows how dangerous sophisticated networks within companies can be. Loud KPMG Over 80 percent of the perpetrators are male and mostly between 36 and 55 years old. The reasons for such offenses are often financial opportunism rather than personal problems. The study also shows that the majority of perpetrators are long-term employees, which can put trust in companies to the test.

The interrogation of René Benko will continue soon. However, the circumstances surrounding the last meeting testify to the difficulties faced by investigators. A new date at a more suitable location for the interrogation has not yet been announced. Meanwhile, the questions surrounding Signa Holding and the investor's activities remain exciting and stressful. The next developments will certainly need to be followed with great attention.