The investigation into the Benko case is progressing. Now a development project of the Signa Group in Vienna has come to the attention of the Public Prosecutor’s Office for Economic Affairs and Corruption (WKStA). Due to the involvement of the Federal Real Estate Company (BIG), the case is also politically explosive.
Vienna Twenty Two is a former joint project of the Signa Group and Austria Real Estate GmbH (ARE), a 100 percent subsidiary of the Federal State Real Estate Agency. Several complexes with apartments, offices, a hotel and commercial space were to be built in the Danube City in Vienna.
The starting signal was given in 2016 on the basis of a cooperation agreement between ARE and Signa: “The accounting and the bank conversations were the responsibility of ARE (BIG). The Signa Group was responsible for the sales and marketing of the project. The project management was to be carried out jointly by ARE and the Signa Group by filling management positions accordingly.” This is how the WKStA summarizes the essential content of the contract.
According to a search warrant from the prosecutor’s office, which is available to the Krone and News, seizures have now also been made in connection with Vienna Twenty-Two.
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.
