Signa founder Rene Benko’s home raided by police in fraud probe

Quick Summary:

VIENNA - Austrian prosecutors raided the home of Signa Holding founder Rene Benko and his insolvent company’s headquarters as part of a fraud probe.

Photos published by the Kronen Zeitung newspaper, which first reported the raid, showed armed police officers at the villa in the outskirts of Innsbruck, the capital of Tyrol province in western Austria.

Wolfgang Peschorn, who acts as the Austrian government’s legal representative, has challenged a restructuring agreement with creditors in court, saying a bankruptcy process would shed more light on the full cause and scope of the meltdown.

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Article Details

Category: EconomyBusiness

Markets: SingaporeAustriaGermanyLiechtenstein

Topics: Prosecutors Insolvency Founder Fraud Bankruptcy Signa’s Benko Signa Embezzlement Austrian Holding

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-26 @ 12:45:00 (2 days ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 594 words

Reading Time: 4 minutes read

Sentences: 28 lines

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Copyright Owner: © The Straits Times

News ID: 21391769

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