Former Billionaire Rene Benko Found Guilty of Fraud

Austrian property billionaire Rene Benko was found guilty of insolvency-related fraud involving cash and valuables. The court issued a 15-month suspended sentence following a previous two-year sentence for a similar conviction, which he is appealing. His wife, Nathalie, was acquitted.

An Austrian court has ruled against former property tycoon Rene Benko, finding him guilty of insolvency-related fraud. The case centered around the discovery of hundreds of thousands of euros in cash and valuables locked in a safe at a relative's home.

Rene Benko received a 15-month suspended sentence, which now accompanies his earlier conviction for the same crime just eight weeks prior. That conviction had resulted in a two-year prison sentence, which he is currently appealing.

In Wednesday's trial, Benko's wife, Nathalie, was also a defendant but was acquitted of any wrongdoing. This verdict adds yet another chapter to the legal troubles of the Austrian businessman.

(With inputs from agencies.)