According to media report:

Benko confidants set up “Immo shadow empire”

Handelsblatt" reports on René Benko's "real estate shadow empire".

(Bild: APA/EXPA/JOHANN GRODER)

As is well known, the Signa bankruptcy has not only led to several insolvency proceedings, but also to criminal investigations against real estate juggler René Benko. The public prosecutor's offices in Vienna, Munich and Liechtenstein are involved. A "real estate shadow empire" built up by confidants of the Tyrolean has apparently gone completely unnoticed - until now!

According to research by the Handelsblatt newspaper, some of Benko's closest confidants have "built up a shadow real estate empire" under the umbrella of the Laura Private Foundation - founded by René Benko and his mother in 2006. These constructs are reportedly located outside Signa Holding.

The portfolio, which is said to have been set up for the Benko family, includes old buildings in Chemnitz, Halle and Leipzig, as well as villas in Austria and the highly sought-after Berlin Chocolate House. The property with 6,000 square meters of floor space offers its owner "high potential for long-term value appreciation", according to a press release issued by real estate agent Savills in 2019 on the occasion of a change of ownership of the building known as "Charlotte" in Berlin-Mitte. At the time, only an unspecified "foundation" was named as the new owner.

"The bankruptcy proceedings could take several years, which is an exceptionally long time," explained Signa's liquidator recently.

(Bild: APA/AFP/Joe Klamar)

Creditors could target "parallel empire"
This "parallel empire" has so far remained completely untouched by the Signa chaos. "But that could soon change", writes Handelsblatt, suggesting that creditors have now also set their sights on two branches of the Laura Private Foundation. One name keeps cropping up in the course of the investigations: "Signature August" Marcus Mühlberger, about whom krone.at has already reported several times. The 61-year-old was once head of finance at Raiffeisen Bank. In 2003, the Austrian joined Signa Holding and quickly rose to become one of the most powerful men in Benko's empire. He is said to be a managing director or shareholder in more than 100 companies - and is also involved in the Laura Private Foundation, which many investors could see as a potential conflict of interest.

Documents obtained by Handelsblatt allegedly show that Benko had "personally" enquired about the business of companies and joint ventures linked to the private foundation just a few years ago. However, it is still not entirely clear who the actual beneficiaries are. According to the foundation deed, they are close family members of René Benko. However, he himself does not want to be one of them.