The Constitutional Court (VfGH) has rebuffed Heinrich Staudinger, the shoe and furniture producer from Waldviertel (Lower Austria). The businessman believes that businesses should be independent from bank loans and freed from debt. The examination of his complaint was rejected. Since 1999, Mr Staudinger has been able to collect 3 million euros from family, friends and […]
A large-scale tax fraud has been revealed in Lower Austria. The customs investigation discovered that a 55-year-old man sold adulterated diesel in East European countries. He is believed to have earned millions of Euros. The Ministry of Finance confirmed the facts to the Austrian Press Agency yesterday evening (Tues). The damage caused by avoided tax […]
The 74 million Euro surplus in Salzburg’s finances presented by state finance chef David Brenner last week has raised doubt amongst experts and party leaders. The main critic from experts is that no one knows how much was paid for the paperwork or just how much Salzburg will be able to step out of the […]
Around 200 former pilots and flight staff from the Austrian Airlines AUA are threatening legal action in order to get their share of the company’s pension fund paid out in advance. Unless the firm agrees to settle it is looking likely that the first legal case over the demand will take place in February. According […]
Regional parliamentary president Simon Illmer (ÖVP) has criticised from his point of view the sloppy work carried out investigating exactly what happened in the Salzburg region’s financial scandal. He said the fact that the search for the missing millions has not yet come up with a concrete result about what happened to the money is […]
Prosecutors in Carinthia have confirmed a new investigation around the Hypo Group Alpe Adria (HGAA) bank against 12 people. None of those under investigation were named. BZÖ-Deputy party leader Stefan Petzner had already indicated that there were new investigations around the end of October and now this has been confirmed by prosecutors. Spokeswoman Gabriele Lutschounig […]
The controversial legal battle against Bank Austria on behalf of investors that lost out when they were persuaded to invest in the pyramid scheme operated by convicted fraudster Bernard Madoff has taken a twist when a specimen case was settled in advance of a High Court ruling. The case was carried out by one of […]
Salzburg’s deputy governor and the man in charge of the province’s finances has announced he plans to resign next month after an alleged rogue trader gambled away billions on risky financial market ventures. Law graduate Monika R, 45, was hired in 2001 to speculate with taxpayers money and made massive losses in 2006 after she […]
The lawyer for the alleged rogue trader at the centre of a scandal that might cost the federal province of Salzburg up to 3 billion has accused the regional governor of not telling the truth when she said she did not know anything about the scandal until 3 of December. Lawyer Herbert Hübel said that […]
In an ongoing battle with the Austrian Financial Market Authority (FMA) over crowdfunding the shoe entrepeneur Heini Staudinger has said that he will not back down and he is prepared to go to prison. Staudinger believes that businesses should be independent from bank loans and freed from debt. Since 1999 he has been able to […]