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Legal & Regulatory / NEWS

Benko Pleads Not Guilty as Third Fraud Trial Opens in Innsbruck

The Signa founder faces allegations involving a €5 million guarantee to a longtime investor’s family foundation.

Jordan EllisPolicy & LegalNovember 4, 2026 · 2 min read

Updated Nov 5, 2026 at 9:52 PM +0000

The old regional and higher regional court building in Innsbruck, photographed in December 2018. Illustrative exterior photograph, not an image of the November 2026 hearing.
The old regional and higher regional court building in Innsbruck, photographed in December 2018. Illustrative exterior photograph, not an image of the November 2026 hearing. Photo: Luftschiffhafen / Wikimedia Commons / CC BY-SA 4.0. Resized, converted to WebP and cropped to fit the layout. Adapted photograph remains under CC BY-SA 4.0.

René Benko pleaded not guilty on Wednesday as his third criminal trial opened in Innsbruck, bringing a disputed €5 million repayment guarantee before an Austrian court.

The Signa founder faces charges of aggravated fraud and insolvency-related fraud. Reuters reported that the proceedings concern a guarantee connected to a November 2023 investment and are scheduled to continue through Thursday, November 5. Reuters, November 4.

The new case examines a transaction involving industrialist Hans Peter Haselsteiner’s family foundation during the period immediately before Signa Holding’s insolvency. It places the representations surrounding a specific financing arrangement at the center of the proceedings. The charges remain allegations, and no verdict in this trial is reported here.

A disputed guarantee

According to Austrian public broadcaster ORF’s account of the prosecution case, Benko allegedly provided a false guarantee on November 6, 2023. Prosecutors say the foundation was induced to transfer approximately €3.3 million and forgo seeking a further €1.7 million, with repayment promised by June 30, 2024. ORF, November 2.

The defense disputes that account. ORF reported that Benko’s lawyer, Norbert Wess, challenged the legal basis of the allegations and said the claim against the foundation had already been overdue before the guarantee was provided.

The prosecution also alleges that Benko concealed a hunting rifle worth €80,000 from the insolvency administrator and creditors. Wess said the rifle had never belonged to his client. That allegation forms a separate part of the proceedings from the disputed repayment promise.

The distinction matters to the account of the case: the trial involves both an alleged misrepresentation surrounding financing and an allegation about an asset’s treatment during insolvency. Benko’s not-guilty plea leaves those accusations contested.

Separate from earlier convictions

Wednesday’s opening follows an earlier insolvency-fraud case. Reuters reported on September 22 that a retrial increased Benko’s prison sentence from two years to 30 months after an additional conviction. Those earlier proceedings are separate from the charges now being heard. Reuters, September 22.

For readers following the legal aftermath of Signa’s collapse, the new development is the start of this third trial and Benko’s denial of the current charges. The earlier conviction should not be treated as a finding on the guarantee now before the court.

The hearing’s scheduled continuation on Thursday makes the next court development the immediate point to watch. Until the court resolves the new allegations, descriptions of the guarantee as fraudulent remain the prosecution’s position, rather than an established outcome of this trial.

Legal proceedingsDistressed assets

Published by The Basis. Research dates, source references and illustrative assumptions are retained from the original article.

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