Austria’s Economic and Corruption Prosecutor’s Office (WKStA) launched an investigation into fallen real estate mogul René Benko in the spring, accusing him and another top manager of the insolvent group of fraud. The probe focuses on an extension of a 25 million euro bank loan last summer, as well as other charges.
On Tuesday morning, police patrols, officers from a special task force, and minibuses arrived at Benko’s Innsbruck villa to conduct a search. A drone was used to survey the property during the operation, according to media sources. The purpose of the search was to secure any potential evidence that could shed light on the accusations against Benko.
Benko’s lawyer confirmed to magazine “Profil” that officers acted professionally during the search and that his client was cooperative. Significant amounts of data were collected during the searches, including documents, cell phones, tablets, and USB sticks. However, no further information has been released by the public prosecutor’s office regarding the ongoing investigation.
Reports suggest that in addition to the loan fraud accusation, there are suspicions that investor funds were not utilized as promised for various projects within the Signa group. There are already two pending proceedings before the WKStA that are not directly linked to the group’s insolvency. One involves individuals associated with a Signa company filing a voluntary disclosure for failing to pay capital gains tax on a dividend distribution. The other proceeding investigates former Ministry of Finance official Thomas Schmid, who testified that Benko offered him a lucrative management position at Signa in exchange for tax relief in the Ministry of Finance.
The timing of these recent raids has prompted questions about their potential impact on any evidence that may have been destroyed in the intervening months. Despite this uncertainty, it is clear that Benko remains under investigation for multiple allegations related to his business practices at Signa Group.
