Reported about 1 year ago
Austrian prosecutors raided the home of Signa Holding GmbH founder Rene Benko and the company’s headquarters as part of a fraud probe. The investigation is looking into suspected embezzlement, fraud, and fraudulent bankruptcy related to Signa and Benko, including allegations of concealing assets. This comes after Benko's real estate and retail empire collapsed, leading to legal scrutiny in multiple countries. The insolvency of Signa remains a contentious issue in Austria due to Benko's connections with the country's political elite, and creditors are seeking more than a billion euros in arbitration from Signa and Benko.
Source: YAHOO