From Liechtenstein

How Benko raised millions before the crash

Signa founder Benko is also involved in transactions of his foundations.(Bild: Krone KREATIV, Starpix/Alexander Tuma, stock.adobe.com)

In late fall 2023, shortly before and shortly after the bankruptcy of Signa Holding, the Benkos' Liechtenstein foundation transferred a total of five million euros to Austria. Not directly to René Benko, but via a detour, as confidential documents show.

It is November 2023, and René Benko's group is getting closer and closer to collapse. The financial fuel needle of the Signa tanker, overloaded with billions in debt, has been in the deep red for months. Benko's co-investors are clutching at the last straw with the installation of a German restructuring expert. Fresh capital is hard to come by and the search for new investors is proving to be about as laborious as looking for a needle in a haystack.