Judgments in Linz

692 investors screwed: 2 years in prison for fraudster

The investors lost more than one million euros, which they had pocketed for a project in Ried im Innkreis.(Bild: lev dolgachov – stock.adobe.com)

There didn't seem to be a lot of fiddling around or excuses! A trial involving a trio of fraudsters in Linz was completed much faster than expected on Thursday. They had swindled more than one million euros from 692 investors. However, the main perpetrator will have to spend even longer in prison than the verdict says.

Investing in a semi-detached house in Ried/I. was a good investment. But after a year, 692 investors were looking through their fingers. The million euros collected via crowdfunding was gone.

All accepted the verdict
On Thursday, a trio of fraudsters had to answer for this at the regional court in Linz. The final verdict: two years in prison for the main perpetrator (35), and because he had a previous conviction, a suspended sentence of eight months was "opened" - he must also serve it. The accomplices (34, 57) got off with three months' conditional imprisonment.