The Munich public prosecutor’s office is investigating the former real estate mogul in Vienna René Benko Due to suspicion of fraud and infidelity in a three -digit millions.
On the one hand, the investigators examine whether Benko and other managers of the Signa group cheated on a Saudi Arabian state fund, as the authority announced. At the same time, it is checked whether Benko and any accomplices of a company in the Signa Group misappropriate.
“Project Franz”
In both cases, the three -digit million amounts are said to have flowed into the “corporate complex” Signa immediately after receipt of money. Both investments are therefore related to the “Franz” project near the Munich main station – now a building ruin. According to its own statements, the Munich public prosecutor has opened the extensive procedure.
Benko not the only accused
“Whether and to what extent the amounts of money for the objects mentioned were used is the subject of the investigation,” said the public prosecutor’s message. Benko is not the only accused, the Munich investigation is therefore “led against other those responsible for the Signa Group, which are not yet known by name”. Benko’s lawyer has not commented on the current processes in the past few days, so far the lawyer has denied all allegations against his client.
Munich processes also in Vienna
The Vienna Economic and Corruption Prosecutor had Benko arrested last week, and is now in custody. Investigations are also underway in Vienna in connection with the Munich processes. Since autumn 2024, a joint investigative group of the public prosecutors in Vienna, Munich and Berlin has been working on the case to coordinate the measures and to be able to exchange seized evidence more easily.
The Berlin public prosecutor is investigating, among other things, about suspicion of subsidy fraud and bankruptcy. The trigger of the Munich investigation that had been running since 2023 was several suspected money laundering. Benko employs investigators in at least three countries: the Italian judiciary is also dealing with the scandal and has issued an arrest warrant regardless of the Vienna procedure.
Requirements for Benko over 2.4 billion euros
The Tyrolean entrepreneur had built up a real estate empire with the Signa Group in times of cheaper loans, which included the department store groups KaDeWe and Galeria. Rising interest rates, energy prices and construction costs had collected the company in collapse. According to the insolvency administrator, the claims of the creditors to Benko add up to around 2.4 billion euros.