Rene Benko, once a billionaire, is now on trial after the downfall of his property empire, Signa. The trial highlights the dramatic consequences of Signa's insolvency, which has become a significant casualty in Europe's property market downturn.

At its peak, Signa was an influential force, acquiring stakes in landmark properties like New York's Chrysler Building and the British department-store chain Selfridges. However, following its collapse, prosecutors have initiated an investigation into potential financial crimes, estimating the damage at approximately 300 million euros.

This week's proceedings mark Benko's first public court appearance since his arrest earlier this year. Prosecutors allege that Benko engaged in insolvency-related fraud, with the charges potentially resulting in a

See Full Page