Signa Founder Rene Benko Arrested in Austrian Fraud Probe (2)

Austrian authorities have arrested Rene Benko, founder of the insolvent Signa property and retail empire, as part of investigations into suspected fraud.

Anti-corruption prosecutors ordered the arrest due to the alleged risk of attempts to obstruct justice, the agency, WKStA, said in an emailed statement.

Norbert Wess, a lawyer for Benko, confirmed the arrest warrant and said a court must decide within 48 hours whether to order pre-trial detention.

Rene Benko

Photographer: Christian Bruna/Getty Images

Benko, 47, has been under investigation for suspected embezzlement, fraud and fraudulent bankruptcy following the financial meltdown of his conglomerate in 2023. The tycoon’s business dealings ...