Insolvent Signa founder
Benko in the flood of advertisements – ex-billionaire remains silent
René Benko has not once publicly commented on the demise of the Signa Group he founded
© ATP photo agency | NOGER Manfred / Picture Alliance
René Benko has been shying away from the public for months. The failed Signa founder should have been able to answer questions in parliament. But he canceled the performance at the last moment.
René Benko avoids the spotlight
The legal advisor argued that Benko did not have an overview of all legal allegations. The 46-year-old entrepreneur could not answer questions in parliament because he would risk getting into a conflict between the obligation to tell the truth and the right to refuse to testify, according to the letter, which was available to the German Press Agency.
insolvency
Lost Benko Places: These Signa properties are degenerating into investment ruins
Benko’s appearance before the so-called COFAG investigative committee was eagerly awaited. The manager, who was once celebrated as a success, has not once publicly commented on the decline of the Signa Group he founded. Since a wave of bankruptcies began to roll through his intricate network of companies last year, he has avoided all public events.
Austrian legal representative would “sleep very restlessly” if he were Benko
The U-Committee was set up by the opposition to shed light on the alleged favoritism of super-rich people like Benko, who have ties to the conservative ÖVP chancellor party. After Benko’s rejection, the questioning of a former high-ranking tax official about tax proceedings by the Signa Group was scheduled for Thursday. Two other finance officials were questioned in Parliament on Wednesday. However, they did not provide any evidence of tax preferential treatment for Signa companies.
According to the highest legal representative of the Republic of Austria, things could get legally tight for Benko. “I would sleep very restlessly,” said Wolfgang Peschorn, President of the Financial Procuratorate, on Wednesday, referring to the former real estate tycoon. There are currently “numerous indications of criminal offenses” surrounding the spectacular decline of the Signa Group. Benko was described by investors as a “de facto managing director”. He was therefore probably the driving force behind the business.
In Germany, the Munich public prosecutor’s office has confirmed investigations into suspected money laundering in connection with the Signa Group. Austria’s corruption prosecutor’s office is investigating, among other things, whether Benko tried to bribe the former Secretary General of the Finance Ministry with a lucrative job offer. Benko’s lawyers have denied these allegations.
In times of low interest rates, Benko had built up an opaque company network, which included, among other things, the unfinished Elbtower in Hamburg, as well as the now insolvent department store brands KaDeWe and Galeria Karstadt Kaufhof. With the rise in interest rates, construction costs and energy prices, the Signa Group has largely collapsed.