"Money carousel"

Benko case: interrogations in Switzerland now too

Reigning in the shadowy realm? Signa founder René Benko is said to have pulled the strings in the foundations even after the Signa crash.

(Bild: Getty Images)

On Friday, the Vienna Regional Court finally confirmed the custodial sentence for financial juggler René Benko - the Tyrolean will now have to remain behind bars for at least 14 days, after which a new examination will take place. Meanwhile, hearings have been held in Switzerland in the "money carousel" case. The latest events at a glance.

Benko spent the last few minutes of his freedom at his desk at Maria-Theresien-Straße 31 in Innsbruck - krone.at reported. The Signa founder still has an office in the Tyrol department store, which brought the real estate speculator his first international attention 15 years ago. On the top floor.

Thursday morning, after the arrest warrant was handed over by SOKO Signa detectives, things went downhill. First to Innsbruck Regional Court, then to Vienna-Josefstadt Prison, where the 47-year-old is said to have spent the first night in video-monitored solitary confinement.

"Strong suspicion of the crime"
On Friday afternoon, a judge at the Vienna Regional Criminal Court made the decision: René Benko is to be remanded in custody. The reason given for this measure is: "The court assumes that there is urgent suspicion of the crime and that there is a risk of concealment and the commission of the crime." Benko declined to make a statement to the judge.

Regent in the shadowy realm? Signa founder René Benko is said to have pulled the strings in the foundations even after the Signa crash.

(Bild: Getty Images)

Instead of expensive gourmet restaurants and luxury courses with champagne, caviar, oysters, lobster etc., the port menu on day one in the cell in the "Gray House" was not quite so feudal. Breakfast consisted of latte, brown bread and Rupp spreadable cheese. Friday lunchtime was then served - in classic Austrian style - baked pea soup, baked fish with parsley potatoes and celery salad. And finally, for the very early dinner at 3 p.m., cold cuisine with brown bread and sliced cheese.

In officialese, the Ministry of Justice states: "Prisoners must be adequately fed with simple institutional food. The food must comply with nutritional science and be tasty."

Insider: Charges could still be filed in spring
Benko and his lawyers will also have to prepare themselves for tough legal fare in the near future. According to "Krone" information, the investigations by the Public Prosecutor's Office for Economic Affairs and Corruption (WKStA) in the "money carousel" proceedings are well advanced. Insiders expect that an initial indictment could be completed in the spring.

Witnesses for the prosecution in Switzerland
In the last few days, two Swiss co-investors of Signa have been questioned as witnesses for the prosecution in Frauenfeld, Switzerland. A further hearing took place in Vienna before Christmas.

How 35 million euros were sent around in circles
The "money carousel" is about a potential sleight of hand that Benko is said to have used in collaboration with his closest confidants as part of a capital increase at Signa Holding in the summer of 2023. At that time, the holding company was already in a precarious situation, which is why the investors were supposed to inject a final total of 350 million euros.

Benko is said to have given the impression that he was setting a good example by pouring in 35 million via his "Benko Family Private Foundation". In reality, however, the 35 million is said to have been withdrawn from the Signa Group and sent on its way via several accounts and companies, only to end up back at Signa. Labeled "fresh equity".

The allegations against René Benko at a glance:

• Danger of committing a crime: as the "Krone" also reported several times, the WKStA assumes that Benko is still the "de facto ruler and beneficial owner of Laura Privatstiftung". However, he is said to have concealed this as part of his personal insolvency. In doing so, he concealed his assets and prevented the assets in the foundation from being accessed by the authorities, trustees and creditors.

• Risk of concealment: Benko is alleged to have subsequently issued an invoice and thus falsified evidence. Specifically, this involves "three high-priced firearms", which he is said to have used to prevent the authorities and creditors from accessing them. Benko's extensive collection of weapons has been the subject of repeated investigations, as the bankrupt owned several high-priced hunting weapons. However, as reported, the invoice for a "stalking rifle with engraving" was issued to Signa Holding - not to Benko himself.

• Capital increase through money carousel: This allegation concerns the actual core of the "Signa system". According to the WKStA, Benko allegedly induced shareholders of Signa Holding Investments to invest in the company as part of a capital increase. To this end, he allegedly suggested that he himself would also inject money through the Benko family private foundation. He allegedly passed off some of the deceived shareholders' investments as his own contribution to the capital increase by making transfers across several companies.

• Suspected breach of trust: Signa Holding GmbH is alleged to have sold a Luxembourg investment company including the associated villa on Lake Garda (Villa Eden Gardone) to the Liechtenstein INGBE Foundation ("Ingeborg Benko"), but without sufficient consideration.

• Suspicion of fraudulent crida: As the string-puller and beneficiary of the "Laura Private Foundation", Benko is alleged to have concealed his true assets and continued to keep the assets in the foundation out of the reach of the authorities, trustees and creditors - including in the context of his personal insolvency. "Furthermore, the accused is alleged to have concealed assets such as high-priced weapons, watches and other items or sold them without adequate consideration, thereby preventing or reducing the satisfaction of creditors", according to the WKStA.

Benko and the managing directors involved are presumed innocent.