The founder of the bankrupt real estate conglomerate Signa had so far been able to continue living undisturbed in a luxurious villa. But now, the handcuffs have finally clicked.
René Benko was arrested on Thursday in Innsbruck. According to information from the Vienna Public Prosecutor's Office, the real estate entrepreneur was detained due to the risk of tampering with evidence and reoffending, as reported by the news agency «APA.»
The Economic and Corruption Prosecutor's Office (WKStA) accuses Benko, among other things, of concealing personal assets in connection with the collapse of his corporate empire. Furthermore, he allegedly withdrew assets held in a foundation from the reach of authorities, insolvency administrators, and creditors.
Benko is said to be the «de facto authority and economic beneficiary of the Laura Privatstiftung». The foundation's assets originate from the Signa companies. Additionally, Benko is accused of falsifying invoices.
The insolvent real estate group comprised around 1,000 interconnected companies. The collapse sent shockwaves through the industry, with creditors demanding billions. The Swiss bank Julius Baer also suffered a significant loss due to its credit involvement.
