INNSBRUCK, Austria (Reuters) -An Austrian court found former property billionaire Rene Benko guilty of one count of insolvency-related fraud on Wednesday, his first criminal conviction related to the
Austrian court finds former property tycoon Benko guilty of fraud
Overview of the Court's Decision
INNSBRUCK, Austria (Reuters) -An Austrian court found former property billionaire Rene Benko guilty of one count of insolvency-related fraud on Wednesday, his first criminal conviction related to the collapse of his real estate group Signa, but cleared him on a second count.
Details of the Fraud Case
The court in his home city of Innsbruck handed him a sentence of two years in prison over a 300,000 euro ($348,600) transfer to his mother, ruling that it was an attempt to keep it from creditors.
Implications for Benko's Future
($1 = 0.8606 euros)
(Reporting by Francois Murphy and Alexandra Schwarz-Goerlich, Editing by Louise Heavens)
