Tag: Norbert Wess

In a dramatic turn of events, the chief public prosecutor’s office in Trento, Italy, has reportedly issued an arrest warrant for Austrian real estate tycoon René Benko, founder of the collapsed Signa Group. The arrest warrant, reported by the Italian news agency Ansa, comes amid a sweeping investigation into alleged corruption and bribery tied to real estate concessions.

In the wake of the bankruptcy of Austrian real estate giant Signa, owned by the embattled investor Rene Benko,...

René Benko, the once-celebrated founder of the now-collapsed Signa property group, is under investigation by Austria's anti-corruption prosecutors for alleged fraud involving a bank loan. This marks the first instance of Benko, a former billionaire, being personally targeted by legal authorities since his business empire's dramatic fall at the end of 2023. The collapse of Signa has left a significant financial void, with billions owed to shareholders and creditors spread across Europe.

In the ever-turbulent saga of financial meltdowns and corporate collapses, the name René Benko emerges as a protagonist in a drama that reads like a thriller novel, yet the stakes are painfully real. The saga unveils a web of intrigue, political manipulation, and a lavish lifestyle funded by questionable consultancy fees and taxpayer bailouts, leaving a trail of financial devastation and unanswered questions about the future of significant assets in Europe's heart.

Gal Barak was sentenced in the Vienna Cybercrime Trials as one of the masterminds behind the cybercrime organization E&G Bulgaria to four years in prison and millions in restitution payments for investment fraud and money laundering. His Bulgarian wife Marina Barak faces the same charges and is currently on trial. Gal Barak gave false testimony at the trial of his wife and was consequently charged by the prosecution for that. As private prosecutors, the EFRI lawyer and its principal Elfriede Sixt accompany the trials representing the victims' voice!

Today was day #3 of the Vienna Cybercrime Trials in the case of Marina Barak. Last week, her lawyer, Norbert Wess, had announced that his client would not answer any questions. Apparently, the statements of the law enforcement agent, who provided his testimony today, caused her "I am silent" attitude to change. Marina Barak was then again available for questioning by the court and the prosecutor. Today's focus was all about the financial processes, the payment processors, and the money-laundering of the cybercrime organization E&G Bulgaria.

The second day in the trial against Marina Barak (previously Marina Andreeva), the former CFO of the Israeli-Bulgarian cybercrime organization E&G Bulgaria was being held today. The judges continued their questioning. Moreover, her husband, Gal Barak, was also scheduled to testify. He was already sentenced in September 2020 as principal and CEO of E&G Bulgaria to four years in prison and is currently in prison in Austria. In the run-up, Gal Barak had unpacked and accused his former partners and employees like Ilan Tzorya or Boyan Popov.

In his opening statement, the prosecutor claims that Marina Barak, along with her husband Gal Barak, was the key person in the cybercrime organization E&G Bulgaria. For example, she assigned the shifts in the boiler rooms, kept the personnel files, and organized the money laundering. She was also responsible for appointing partly homeless people as directors at the Legal Entities to operate the scam brands. According to the prosecution's findings, Marina Barak continued the scam operations after her husband's arrest.

Gal Barak was found guilty as charged in early September 2020 as the head of the cybercrime organization E&G Bulgaria for investment fraud and money laundering. He was sentenced to four years in prison. Also, millions of Euros frozen in Bulgarian bank accounts were confiscated for restitution payments. Barak is about to be extradited to Germany, where he is also charged with operating the fraudulent brokers. His partner and wife, Bulgarian Marina Barak, will stand trial as his accomplice and CFO of E&G Bulgaria. She is expected to plead not guilty.