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Suspected fraud

Signa: Who benefited from the millions in capital

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10.07.2024 18:00

The investigations into the Benko case are progressing. A development project of the Signa Group in Vienna is now coming under the scrutiny of the Public Prosecutor's Office for Economic Affairs and Corruption (WKStA). Due to the involvement of the Bundesimmobiliengesellschaft (BIG), the matter is also politically explosive.

Vienna Twenty Two is a former joint project between the Signa Group and Austria Real Estate GmbH (ARE), a wholly owned subsidiary of the state-owned Bundesimmobiliengesellschaft. Several complexes with apartments, offices, a hotel and retail space were to be built in Vienna's Donaustadt district.

The project was launched in 2016 on the basis of a cooperation agreement between ARE and Signa: "ARE (BIG) was responsible for the bookkeeping and bank discussions. The Signa Group was responsible for the sale and marketing of the project. The project management was to be carried out jointly by ARE and the Signa Group through the corresponding appointment of managing directors." This is how the WKStA summarizes the essential content of the contract.

Now, according to a search warrant issued by the public prosecutor's office, which is available to "Krone" and "News", seizures have also been made in connection with Vienna Twenty Two.

The "Vienna Twenty Two" project in Vienna's Donaustadt district (Bild: APA/Signa - Are, APA/Helmut Fohringer, Krone KREATIV)
The "Vienna Twenty Two" project in Vienna's Donaustadt district
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