The Austrian investor and ex-billionaire René Benko is again before the Innsbruck regional court. As with the first case, there is a suspicion that the 48-year-old wanted to hide assets from his creditors. In addition to Benko, his wife Nathalie is also charged. She is said to have contributed to the crime. The penalty for the crime of so-called fraudulent Krida, as the offense is called in Austria, is up to ten years in prison given the amount of damage.
The public prosecutor’s office accuses the businessman of having hidden cash worth 120,000 euros as well as eleven high-priced watches and other items worth 250,000 euros in a safe. As part of his insolvency as a sole proprietor, he prevented or reduced the satisfaction of creditors’ claims, according to the judicial authority.
On the first day of the trial, after statements from the prosecution and defense, the questioning of the suspects and several witnesses is planned. There may be a verdict as early as Wednesday. If a second day of trial is necessary, it is planned for December 16th.
New convictions would not simply be added
Benko had already been sentenced in October by the regional court in his hometown of Innsbruck to two years in prison for damaging his creditors. The investor describes himself as “not guilty”. The first judgment is not yet legally binding. If Benko is also sentenced to prison in the second trial, the sentence will not simply be added together. Rather, after the first judgment becomes final, an entire sentence would be formed. The 48-year-old has been in custody since January 2025.
Benko had amassed a fortune over around 20 years with his complex Signa real estate and trading empire. In his heyday, the Tyrolean-born man was considered a five-time billionaire. Rising interest rates and risky acquisitions such as those of the German department store groups Karstadt and Kaufhof drove Signa into bankruptcy.
According to the credit agency Creditreform, the mountain of debt is around 40 billion euros, which also includes many of the more than 1,000 Signa companies’ claims against each other.
The Vienna Economic and Corruption Prosecutor’s Office (WKStA) is investigating 14 strands surrounding the Signa bankruptcy. It is certain that the ex-billionaire will face further lawsuits.