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Vienna Court Keeps Signa Founder René Benko in Custody

Prosecutors have added fresh leads probing illegal payments to a family foundation linked to Benko.

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Overview

  • On June 26 the Vienna Regional Court extended Benko’s pre-trial detention, citing urgent suspicion of serious crimes and risk of further offenses.
  • The Economic and Corruption Prosecutor’s Office suspects him of breach of trust, fraud and criminal bankruptcy tied to the €2.4 billion collapse of Signa Group.
  • Investigators have opened new lines of inquiry into alleged asset concealment through offshore structures and family foundations depriving creditors and insolvency administrators.
  • Authorities are examining whether a million-euro payment from a Signa entity to a Benko-linked family foundation violated financial regulations.
  • The court must revisit his detention status within two months as prosecutors prepare potential indictments.