René Benko: Kaufhäuser und verschwundene Millionen | Doku | NDR Story

Summary

The transcript uncovers a major financial and political scandal involving René Benko, the Austrian founder of Signa Group. It details how Benko allegedly used his influence to secure substantial state aid for the struggling Galeria Karstadt Kaufhof retail chain during the COVID-19 pandemic, despite the company's pre-existing financial troubles. The video reveals the complex corporate structure designed for opacity, questionable financial transactions, and potential corruption involving political figures like former Austrian Chancellor Alfred Gusenbauer. The collapse of Benko's empire has severe economic consequences, raising concerns about taxpayer-funded bailouts and financial mismanagement.

Takeaways

• 😀 Benko's company, Signa, received 680 million euros in state aid, despite already being in financial trouble before the pandemic.
• 😀 Despite receiving substantial public funds, Benko used complex business structures to shield his wealth, often in tax-friendly jurisdictions like Luxembourg, Austria, and Liechtenstein.
• 😀 There are allegations of corruption involving former Austrian Chancellor Alfred Gusenbauer, who reportedly received millions for consulting services related to Benko's state aid.
• 😀 Benko's company, Galeria Karstadt Kaufhof, continued to struggle even after receiving government aid, leading to a third round of insolvency.
• 😀 The state aid received by Benko's businesses violated EU guidelines, as the company was already in financial trouble before the pandemic.
• 😀 Benko personally benefited from his company's struggles, including receiving dividends and purchasing expensive art with the aid money.
• 😀 Benko's complex corporate structures, including his private foundations, allowed him to minimize tax liabilities and maintain a high level of financial secrecy.
• 😀 There are suspicions that Benko engaged in fraudulent and money-laundering activities, particularly related to the transfer of assets through his private foundations.
• 😀 Political figures like Sebastian Kurz reportedly assisted Benko in securing financial resources, including through high-interest loans from Gulf state investors.
• 😀 The bankruptcy of Galeria Karstadt Kaufhof resulted in store closures and job losses, highlighting the long-term negative impacts on employees and taxpayers.
• 😀 Despite the collapse of his businesses, Benko's wealth was protected through various deals, including the sale of valuable assets like a luxury property on Lake Garda.

Q & A

What role did Ren Benko play in the financial collapse of Galeria Karstadt Kaufhof?

Ren Benko was a central figure in the financial collapse of Galeria Karstadt Kaufhof. Despite not being officially in charge, he had significant influence over the decision-makers, securing state aid for the company despite it already being in financial trouble before the pandemic.

Why did Benko receive state aid for Galeria Karstadt Kaufhof despite its pre-existing financial issues?

Benko's company, Galeria Karstadt Kaufhof, received state aid despite its financial troubles because of the significant political influence Benko wielded. This aid was granted even though EU regulations state that companies in financial distress before the pandemic should not qualify for such support.

How did Benko manage to maintain control over his business empire despite the lack of official involvement?

Benko maintained control through extensive behind-the-scenes influence and by using complex financial structures. Even though he wasn’t officially in charge of Galeria Karstadt Kaufhof since 2013, he continued to exert control through personal connections and his significant influence in the business operations.

What role did former Austrian Chancellor Alfred Gusenbauer play in Benko's financial dealings?

Alfred Gusenbauer acted as an intermediary for Benko, facilitating state aid in exchange for consulting fees. Gusenbauer's involvement raised suspicions of corruption, as he was allegedly paid millions to help Benko secure the financial support for his company.

What controversial financial structures were used by Benko's companies?

Benko's companies, particularly Signa, utilized complex financial structures involving multiple layers of companies in Luxembourg and Austria. These structures allowed him to avoid scrutiny and limit financial transparency, which helped him bypass mandatory audits and conceal the true financial health of his empire.

How did the Elbtower project in Hamburg contribute to the financial downfall of Benko's empire?

The Elbtower project in Hamburg, which was initially intended to be a major development, collapsed due to a lack of funding. Despite early promises, financial institutions withdrew their support, leading to a halt in the project and further strain on Benko's finances.

What is the significance of the Ingeb Foundation in Benko’s financial dealings?

The Ingeb Foundation, named after Benko’s mother, played a critical role in hiding millions of euros from Benko’s real estate transactions. It was used to channel funds and assets to his family, particularly benefiting his daughter, Laura, through high dividends from real estate ventures.

How did Benko use the Ingeb Foundation to shield assets from creditors?

Benko used the Ingeb Foundation to conduct questionable transactions, such as selling worthless shares for valuable real estate. This allowed him to shield assets from creditors while retaining control over high-value properties, including a luxurious complex in Gardone.

What legal and ethical issues have arisen from Benko's business practices?

Benko’s business practices have raised serious legal and ethical concerns, including allegations of fraud, money laundering, and the use of complex financial structures to avoid transparency. The European Central Bank and authorities in Liechtenstein are investigating these practices.

What impact did the insolvency of Galeria Karstadt Kaufhof have on the German economy and taxpayers?

The insolvency of Galeria Karstadt Kaufhof caused significant financial loss to German taxpayers, with the company receiving hundreds of millions in state aid before ultimately failing. The closure of many stores and the loss of thousands of jobs further exacerbated the economic impact, particularly in German city centers.