Finance
Austrian Real Estate Billionaire Receives Higher Prison Sentence, Paid €300k Rent When Company Was Collapsing
The Innsbruck court sentenced fallen Austrian real estate magnate René Benko to two and a half years in prison for prejudicing creditors. The High Court overturned a previous acquittal, leading to a retrial where Benko was found guilty of paying a €360,000 rent advance for an Innsbruck home while his Signa empire was in critical condition. Benko, founder of the bankrupt Signa group which owned KaDeWe and the Chrysler Building, has been in pre-trial detention since January 2025. He denies all accusations as creditors from the UAE and Thailand seek billions in repayment.
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