Former billionaire in court: trial against René Benko started - verdict likely
About a year ago, the Austrian investor was sentenced for damaging his creditors. The proceedings must now be repeated in part. This could mean a new penalty.
Olympic investor René Benko faces the courts once again, this time in Innsbruck, Austria. The trial centers around allegations that Benko damaged his creditors. Seven witnesses are expected to testify, with a verdict anticipated on Tuesday. The potential penalty ranges from one to ten years imprisonment. Benko was initially sentenced to two years in prison in October 2025 for these same allegations, though the judgment was later overturned by the Supreme Court.
Consequently, the case is being retried to determine the exact sentence. The charge: Benko allegedly harmed his creditors by paying a year's rent in advance for his home, despite being on the brink of insolvency. This was intended to harm his creditors. Benko denies all accusations and has been in pre-trial detention since January 2025.
His vast real estate and trading empire, known as Signa, was worth billions. Rising interest rates, construction costs, and risky acquisitions, such as acquiring the German supermarket chains Karstadt and Kaufhof, ultimately led to Signa's insolvency.
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