René Benko: Two years in prison for insolvency fraud

Signa founder René Benko has been sentenced to two years in prison by the Innsbruck Regional Court for defrauding his creditors. The jury court ruled that Benko had siphoned off assets by making a gift of €300,000 to his mother. The real estate entrepreneur was acquitted on another charge, the advance payment of €340,000 in rent for the Hungerburg villa in Innsbruck. The verdict is not yet final. Benko and his lawyer had pleaded "not guilty" on both charges.