The Signa leadership’s register of sins: Financial juggler René Benko and his closest confidants are said to have orchestrated massive asset transfers to the detriment of Signa Holding. Investors feel deceived. Even after the insolvency occurred, payments are said to have still been made.
The Liechtenstein public prosecutor’s office is not the only authority hot on the heels of Austria’s most talented financial juggler. In Austria, Soko Signa was formed in the Federal Criminal Police Office, which acts on behalf of the economic and corruption prosecutor’s office. In Germany, the Munich public prosecutor’s office has started an investigation on suspicion of money laundering. And now the liquidator of Signa Holding is also hunting real estate speculator René Benko and the sunk Signa treasures. The de facto management René Benko and his willing henchmen are apparently facing claims worth billions, according to research by “Krone” and “News” in the area from Signa Holding’s trustee Christof Stapf. In addition to the Signa founder, two long-standing top managers are also being targeted: Manuel Pirolt, the Signa Group’s chief financial officer. And Marcus “Signature August” Mühlberger, who not only sat for Benko on the management board of Signa Holding, but also on the board of a private foundation. For the liquidator Stapf, one fact also seems to be beyond doubt: René Benko was the de facto in the realm of non-transparency Managing Director. That’s precisely why the Tyrolean is at the top of Signa’s register of sins. Asset transfers and appreciations What are the most serious allegations? Benko and Co. are said to have carried out asset transfers at the expense of the crumbling Signa Holding. This involves extensive transfers of millions between the companies of the Signa Group, for which there should be no operational or economic justification, as well as for a payment of around 50 million to Benko’s Laura private foundation. The Signa top is supposed to own the real estate assets of the Signa Group overvalued and thus embellished the actual asset situation for investors. This is about donors who make claims in the three-digit million range and feel deceived: for example the Mubadala sovereign wealth fund (713 million euros). Or about the real estate company Madison International Reality (770 million), which is accused of having been misled with incomplete figures when it entered the market in 2019. The Signa bosses are said to have continued to make payments even after the insolvency occurred . This involves, among other things, a transfer of around 150 million to an investment house. There are also guarantee commitments, for example to the Julius Baer bank, for a good 200 million. However, without having the necessary capital for this – that is the accusation of the trustee. Years of legal disputes Given this extensive list of sins, Benko and colleagues have to prepare for years of legal proceedings. If the allegations are true, the managing directors would be liable for billions sunk with their private assets. René Benko has already fled into his own personal bankruptcy at the Innsbruck regional court. However, after the final crash of Signa Holding due to the bankruptcy that became known on Wednesday, it can be assumed that the liquidator also wants to take the last shirt off the helpers in the management. Collaborations with media group In the meantime, details of the claims also leaked out in connection with the crash of the holding company at least one creditor. According to the long list, as reported, claims against the debtor are likely to be made by various banks (including the Swiss Julius Baer Bank), Siemens AG, the Innsbruck tax office and the Innsbruck district administration, Wiener Linien and Mediengruppe Österreich GmbH. As the “Krone” learned, the media group is said to have registered claims totaling 504,000 euros. Specifically, this involves two invoices for collaborations amounting to 252,000 euros each. It is not clear whether the claim was also recognized.
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