René Benko is threatened with new problems. The ruling family around Abu Dhabi’s Crown Prince Mohamed bin Zayed Al Nahyan is demanding millions of money back from real estate juggler Benko. The Mirror reported this on Saturday. Accordingly, the family is concerned with honor.
The family is concerned about honor, the Spiegel quotes an insider of the donors.
The article literally says: “The sheikhs do not like to look like idiots who allow themselves to be deceived.” For them, “it is worse to lose face than to lose money.” Benko will “probably need more bodyguards now.”
In concrete terms, this concerns the capital that the clan personally donated to the Austrian. Last year alone, Benko is said to have received 100 million euros from a family office of the ruling family.
Abu Dhabi’s sovereign wealth fund is demanding more than 700 million euros back from Benko
At the end of 2023, it was announced that the state investment fund Mubadala from Abu Dhabi demanded loans worth 713 million euros from Signa and Benko in an arbitration procedure. A lawsuit failed. According to the insider, the ruling family would write off this money if necessary, but not the millions that Benko personally received from the family coffers. The Nahyan clan sent an “armada of people” to track down Benko’s money, the insider added.
Signa Holding filed for bankruptcy on November 29, 2023, despite rescue attempts – including rumors of talks with Arab lenders.
Benko is no stranger to Abu Dhabi
Even before that, Benko was no stranger to Abu Dhabi: the Tyrolean investor is said to have traveled to the United Arab Emirates several times in the past, including in the company of former Chancellor and ex-ÖVP boss Sebastian Kurz.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
