World · Europe · 29 mins ago
René Benko faces trial over alleged €5 million fraud
René Benko is on trial in Innsbruck, Austria, over allegations linked to the collapse of his Signa business group.
Prosecutors say he used a false personal guarantee to secure about €5 million from a foundation belonging to his former business partner, Hans Peter Haselsteiner.
The money was linked to Signa shares and a separate cash injection for Signa’s Sportscheck business, with repayment promised but never made.
Haselsteiner testified that he trusted Benko and says he did not know Benko might lack the means to repay the money.
Benko denies wrongdoing, and his lawyers argue the foundation suffered no loss.
Prosecutors also accuse him of hiding an €80,000 hunting rifle from creditors, a charge he denies; a conviction could bring up to 10 years in prison, and the trial is scheduled to hear from more witnesses.
René Benko is on trial in Innsbruck over allegations that he used a false personal guarantee to cause a loss of about €5 million to Hans Peter Haselsteiner’s foundation.
Prosecutors allege Benko knew he could not repay the money; he denies fraud, and his lawyers argue the foundation suffered no loss.
The case also includes an allegation that Benko hid an €80,000 hunting rifle from creditors, which he also denies.
If convicted of serious fraud and fraudulent bankruptcy, Benko could face up to 10 years in prison.
Haselsteiner, a former business partner and investor in Signa, testified against Benko.
- Who
- René Benko is the defendant; Hans Peter Haselsteiner’s foundation is the alleged victim.
- What
- Benko faces allegations of serious fraud and fraudulent bankruptcy over about €5 million and an €80,000 hunting rifle. He denies the allegations.
- When
- The trial began on 4 November 2026 and was scheduled for two hearing days.
- Where
- The Regional Court in Innsbruck, Austria.
- Why
- Prosecutors allege Benko gave a false guarantee of repayment and concealed an asset from creditors.
Prosecutors
Benko and his lawyers
Guarantee
Prosecutors
Prosecutors allege Benko’s personal guarantee was false because he knew he could not repay the money.
Benko and his lawyers
Benko denies fraud; his lawyers say the foundation suffered no loss.
Rifle
Prosecutors
Prosecutors allege Benko hid an €80,000 hunting rifle from insolvency administrators and creditors.
Benko and his lawyers
Benko denies this allegation.
Haselsteiner’s foundation acquired Signa Development shares for about €5 million, with the price to be offset against dividends.
Haselsteiner’s family foundation provided €5 million for Signa subsidiary Sportscheck after Benko guaranteed repayment by the end of June 2024.
Benko made the repayment guarantee before a notary, according to NZZ.
Signa Holding filed for insolvency, according to Bild.
Benko became personally insolvent, according to NZZ.
Benko’s trial began at the Regional Court in Innsbruck.
- Alleged loss
- About €5 million
- Additional allegation
- Hunting rifle valued at €80,000
- Defendant
- René Benko, 49
- Witness
- Hans Peter Haselsteiner, 82
- Court
- Regional Court in Innsbruck, Austria
- Possible sentence
- Up to 10 years in prison
4 sources
Zwei Jahre Haft zusätzlich: auch beim vierten Mal glaubt das Gericht René Benko nicht
Betrug von Investor: Ex-Milliardär Benko zu Zusatzstrafe verurteilt
5-Millionen-Anklage gegen Ex-Milliardär - René Benko drohen 10 Jahre Haft!
What people are saying
I would never have imagined that he did not even have five million.
René said, now we are not paying, now we have no money, that is how it always went.
If Haselsteiner claims he was deceived, then he is lying.