René Benko Faces Fraud and Embezzlement Probes Across Europe

The Austrian real estate mogul is under investigation in multiple countries for alleged financial crimes involving hundreds of millions of euros.

German prosecutors are investigating René Benko for alleged fraud and embezzlement involving a Saudi Arabian sovereign wealth fund and the Signa Group.
The accusations center on the diversion of funds tied to the 'Project Franz,' a now-defunct construction project near Munich's central station.
Benko is currently in custody in Austria, where related investigations are being conducted in coordination with German and Italian authorities.
The investigations stem from money laundering alerts and include allegations of subsidy fraud and bankruptcy concealment by the Signa Group.
Creditors are claiming €2.4 billion in losses after the collapse of Benko's real estate empire, which was impacted by rising interest rates and costs.