Signa Founder Benko Transferred to House Arrest

Innsbruck Regional Court granted Signa founder René Benko's request to move from prison to electronically monitored house arrest after he served about two-thirds of a 30-month sentence for insolvency-related fraud. The court stated, "It was ordered that investigative detention be continued as electronically monitored house arrest." Benko was convicted over a €360,000 advance rent payment for an Innsbruck property. Lawyer Norbert Wess argued house arrest was needed to prepare for trial. Benko will live in a roughly 60-square-metre rented Innsbruck apartment with an electronic tag, may leave once a day for one hour and shop twice a week, and is banned from contact with people from the Signa Group and a private foundation. Prosecutors immediately filed an appeal that has no suspensive effect. A court spokeswoman confirmed the transfer to dpa. Benko was arrested in January 2025. His next trial is set for November 4-5 at Innsbruck Regional Court on charges of aggravated fraud and insolvency-related fraud involving a false guarantee prosecutors say caused about €5 million in harm; prosecutors estimate total harm across the investigation at €1.5 billion.