In a high-stakes legal battle, Austrian former property mogul Rene Benko has officially contested his recent conviction for insolvency-related fraud. The court’s decision last week included a two-year prison term, prompting Benko’s legal team to promptly file an appeal, as announced by his lawyer on Monday.
The charges against Benko originate from a comprehensive investigation into alleged financial misconduct linked to the 2023 collapse of Signa, a real estate giant he once headed. The court in Innsbruck found Benko guilty of transferring 300,000 euros to his mother as a gift, purportedly to shield assets from creditors prior to Signa’s insolvency filing.
While Benko faced a guilty verdict on one count, he was cleared on a second fraud charge, a decision now also under appeal by the Central Prosecutors’ Office for Economic Crimes and Corruption. Investigations continue, with total damages estimated at 300 million euros and creditors seeking recovery of 27.6 billion euros.