Austrian Tycoon Benko's Assets Scandal: A New Suspect Emerges

Austrian prosecutors are investigating a woman for allegedly helping Rene Benko, a property tycoon, hide assets during the collapse of his real estate group, Signa. Benko, currently in custody, is accused of concealing property to avoid creditors. Raids were conducted in Tyrol, expanding the ongoing investigation.

Austrian prosecutors have expanded their investigation into Rene Benko, a property tycoon, by probing a woman suspected of aiding in concealing assets from creditors. Benko's real estate empire, Signa, imploded amid a European property downturn.

The Central Prosecutors' Office for Economic Crimes and Corruption (WKStA) has already detained Benko for over three months. The latest raids in Tyrol, where Benko previously resided and founded Signa, extended the inquiry to the unnamed woman, suspected of helping to safeguard valuables from administrator recovery.

The woman is believed to have played a role in supposed insolvency fraud. While details on her custody status remain unclear, this development highlights the broader financial turmoil as Benko's empire attempts to mitigate creditor losses through ongoing insolvency proceedings.

(With inputs from agencies.)