Risk or gambling? Benko's questionable real estate transactions expose!

Risk or gambling? Benko's questionable real estate transactions expose!

Signa Holding GmbH, an important player in the real estate industry, is criticized for the lack of annual financial statements. According to a report by the ORF, the organization chart of Signa comprises more than 1,000 companies and extends over 46 A3 pages. Nevertheless, the company has not published any consolidated balance sheets for years. This was sharply condemned by the Chamber of Labor (AK), which pointed out that private foundations that do not have any disclosure obligations stand out here. The AK now calls for an increase in punishment for late balance sheet publications and an obligation to disclose the group financial statements for private foundations to create more transparency and to avoid potential grievances.

Nikolaj Schmolcke, former Financial Manager at Lufthansa, also critically commented on Signa's finances. As with the The press have partly extremely extreme. released; In some cases it took up to five years after the key date. Schmolcke accused the company that a lack of publication is a sign of problems. It is particularly striking that the assessment of the real estate by founder René Benko has increased, which may implicate strong “shared deals”. He estimates that the property values ​​have been increased by one billion euros, which gives the appearance of profitable business, but is also associated with high risks.