René Benko Arrested Over Fraud and Asset Concealment Allegations

The former billionaire and founder of the insolvent Signa Group faces accusations of hiding assets and defrauding investors, with investigation spanning Austria, Germany, and Italy.

René Benko, founder of the collapsed Signa Group, was arrested at his Innsbruck villa on charges of fraud, breach of trust, and asset concealment.
Authorities allege Benko hid assets in the Laura Privatstiftung, falsified documents, and misled investors during his personal and corporate insolvency proceedings.
Investigators claim Benko used a 'money carousel' to misrepresent his contributions to the Signa Group, encouraging further investments from partners.
The joint Austrian-German investigation also examines allegations of investment fraud tied to a Munich real estate project and potential misuse of funds.
Benko's arrest follows months of surveillance and legal scrutiny, marking a significant turn in the largest corporate insolvency in Austria's post-war history, with creditor claims exceeding €2.4 billion.