Thursday, 27. November 2014
22. 01. 13. - 21:00
In the case of illegal share trades inside the biggest Austrian real estate concern, ex-manager Petrikovics, who claims innocence, is accused of perfidy and the creation of a criminal organisation.
Prosecution accuse Petrikovics, in conjunction with an executive colleague Norbet Gertner and the then chairman of the supervisory body Helmut Schwager, of buying Immoeast-shares following an increase of capital without the consent of the supervisory body – and to have personally profited from the move.
With the help of Ernst Hable, Petrikovics, Gertner and Schwager also allegedly faked options and cashed in under the guise of four Immoeast and Immofinanz actions. These were supposedly conceded in 2004 and 2005 but issued in practice only in 2006.
The four suspects deny the accusations and say they received authorisation from the supervisory body to make the purchases. According to prosecution, the accused "created 32 Million Euros of damages through – partly obscured by helpers – these action-purchases."
The Immofinanz case was also catalyst for the investigations linked to the Bau und Wohnen GmbH (BUWOG) privatisation in 2004.
Investigators discovered a 10-million-Euro provision was made from the successful BUWOG-bidder Immofinanz to the lobbyists Peter Hochegger and Walter Meischberger before the sale went through.
Ex Immofinanz executive Christian Thornton told prosecution the services of an intermediary had indeed been taken up during the acquisition process of BUWOG. Until the investigations no one knew that Meischberger and Hochegger, friends of ex finance minister Karl-Heinz Grasser, had received one million Euros from the winning bidder.
For the last two years, BUWOG has been investigated and traces of the million-Euro provision have been followed to Cyprus and back to an account in Liechtenstein. Suspects' houses were searched and several people were questioned in connexion with this case, yet no one was remanded in custody during the process.
If the criminal proceedings against the malversations only recently began, civil tribunals have been busy documenting the inconstancies in and around what was once the biggest real estate company in Austria for several years.
The trials against the company and external finance advisors have been on the case since the end of 2008. In May 2011, even the Immofinanz Group started civil court proceedings against the then manager.
How An Austrian Park Every Year Becomes A Lake
Spectacular images that show how a park becomes a lake each spring complete with underwater trees have been captured by two divers.
Mad About Mammoths At Vienna Museum
A unique exhibition in the Austrian capital Vienna has proved a massive hit after bringing together for the first time some of the most famous frozen woolly mammoth remains.
Controversy Over Advert For Fucking Hell Beer
An Austrian political party has defended a decision to promote a local beer named after the village of Fucking.
Luigi Restaurant Cooks Up Delicious Delights For Winter Season
Brothers Luigi and Leo Doci who own the renowned Luigi restaurant chain will be cooking up a storm in Semmering this winter.
Church Porn Star In Court
A Polish-born woman who made a video of herself masturbating in church is facing six months in jail after a viewer called police when he recognised the woman.
Hugh Grant Cuddles Lamb On Animal Farm With Mrs Glock
Hugh Grant led a star-studded turnout at Austria's animal farm project which unveiled its Christmas market this week.
Cheating Wife Buries Hubby Alive For New Lover
A woman who married her sisterís fiance and then attacked him with a knife before burying him alive so she could be with her new lover is facing life in jail.
Spate of Crimes throughout Vienna and Lower Austria Solved
Four men have been arrested after committing 113 break-ins, 21 thefts and causing at least 260,000 Euros worth of damage.
Dad Punished Child, 2, With Boiling Hot Shower
A two-year-old girl is in an artificial coma and fighting for her life after her father threw her into a scalding hot shower leaving her with severe burns at the family home in the Austrian capital Vienna.
Police And Firemen Get Cold Turkey
Flipping the bird was given a new meaning in Austria this week when a truck filled with plucked turkeys overturned, closing a busy motorway in the process.
The most popular stories –
last 7 days
|Controversy Over Advert For Fucking Hell Beer|
|Plumber Zapped On Private Parts Then Impaled Finds God|
|Mad About Mammoths At Vienna Museum|
|How An Austrian Park Every Year Becomes A Lake|
|Aysha King Prague Proton Centre Doubles Prices|
Why suffer in silence. Let off steam by letting our readers share your troubles. File your complaints about anything and everything here.
Our ombudsman David Rogers will try and help solve some of the problems from lazy civil servants through to incompetent companies – and at the very least the worst transgressors will end up in our weekly special report.