Benko on the ground: Now the family foundation is also insolvent

Dubious money flows

The foundation itself is centered around the founder of the Signa real estate group, René Benko. The assets of the “Family Benko Private Foundation” consist of investments, in particular in the insolvent Signa Holding. According to reports from the Crown, the value is said to be around 250 million euros. Most recently, the private foundation is said to have granted Signa a loan of 100 million euros. As the Financial Times reported in January, there were already dubious flows of money between Benko’s foundations and Signa. Shortly before Signa’s bankruptcy, a good 300 million euros are said to have flowed to the private constructors.