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Austrian court convicts fallen property tycoon Benko of aggravated fraud

By Reuters Newsan hour ago Updated

INNSBRUCK, Austria, Nov 5 (Reuters) - An Austrian court convicted fallen property tycoon Rene Benko of aggravated fraud on Thursday, sentencing him to two years in prison at his third criminal trial after two earlier convictions for insolvency-related fraud.

The aggravated fraud charge centred on a roughly €5 million guarantee ($5.6 million) Benko gave Austrian industrialist Hans Peter Haselsteiner's family trust in November 2023 in relation to an investment in Signa shortly before its collapse. He was acquitted on a separate charge of insolvency-related fraud.

($1 = 0.8880 euros)

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