René Benko has pleaded not guilty to charges of serious fraud and fraudulent bankruptcy at the Innsbruck Regional Court. Prosecutors accuse the Signa founder of causing a foundation associated with investor Hans-Peter Haselsteiner to lose about €5 million through a guarantee they say was untrue. Benko rejects the allegations.
The guarantee was allegedly issued on November 6, 2023, shortly before Signa Holding became insolvent, and promised repayment by the end of June 2024. According to the indictment, Haselsteiner’s foundation transferred around €3.3 million to Signa Holding and waived a further €1.7 million in claims. The funds were intended for SportScheck, another Signa company in financial difficulty. Prosecutors say the foundation was harmed while Signa Holding and another company benefited.
The prosecution describes the case as a deliberate fraud, arguing that Benko never intended to repay the money. He says the guarantee was pressed on him during tense negotiations and disputes that Haselsteiner was deceived. His defence argues that the payment related to an outstanding obligation for shares in Signa Development and that no one suffered a loss.
Haselsteiner disputes that account. He says the share purchase price was due only after a dividend payment, and that he would not have bought the shares using fresh funds. He also testified that Benko had assured him the money would be repaid and appeared capable of paying much larger sums.
The testimony has also raised questions about who made decisions within Signa. Benko has said he was an advisory board chairman and consultant, not involved in operational details. Prosecutors, citing emails, meeting records and statements from executives, argue that he was the group’s effective decision-maker. Haselsteiner said Benko had made clear that he wanted to be in charge.
A second charge concerns an allegedly undisclosed hunting rifle valued at €80,000. Prosecutors say Benko concealed it from the insolvency administrator and creditors. If convicted, he faces up to ten years in prison.
Benko is currently under electronically monitored house arrest in Innsbruck. The report notes that he was last month granted an ankle monitor after a review of his detention, with time already spent in custody counting toward his sentence. In September, he received a final 30-month prison sentence for fraudulent bankruptcy in a separate case related to the collapse of Signa.
Sources: FAZ.