René Benko: Second indictment against Signa founder submitted

A second indictment for allegedly hidden luxury watches and cash supplies has been submitted against the former billionaire René Benko. According to Austria’s economic and corruption prosecutor (WKSTA), the founder of the insolvent real estate and trade group Signa is suspected of presuming assets of almost 370,000 euros from creditors.

The accusation of the indictment, which is not yet final, is fraudulent crida. The term from Austrian criminal law roughly corresponds to bankruptcy in Germany.

The new allegations affect eleven high -priced watches as well as cufflinks and watch bracelets with a total value of almost 250,000 euros. According to WKStA, these items and 120,000 euros in cash are said to have been hidden in a safe in the house of relatives.

The first indictment of July is also about alleged fraudulent crida. Among other things, Benko is accused of giving his relatives 300,000 euros despite a foreseeable bankruptcy opening. Because of this first indictment, the 48-year-old Austrian will have to answer to court in Innsbruck from October 14th. Benko threatens up to ten years in prison.

Benko’s lawyer initially did not comment on the further charge. In the past, the lawyer had rejected accusations against the businessman.

Austria’s judiciary is investigating in around a dozen procedural strands around the failed Signa Group. The nested company network, which also included the Hamburg Elbtower, the Galeria goods center group and the luxury department store KaDeWe, had collapsed due to internal problems and increasing costs.