Auer-Welsbach Pleads Not Guilty

Business › n.a. ♦ Published: January 12, 2011; 00:24 ♦ (Vindobona)

The former CEO of the Austrian AvW stays by his actions on the first day of his trial.

Auer-Welsbach Pleads Not Guilty / Picture: © Vindobona.org

Wolfgang Auer-Welsbach is accused of serious professional fraud and breach of trust. He has allegedly defrauded a total of 13,000 investors since 1989. The amount of the damages is given as € 420m, of which damages included in the alleged fraud for € 270m.

Auer-Welsbach declared himself as not guilty. However, the defendant admitted being the "Master Mind" of the investment…

or Log In

Fast News Search
Related News
AvW: Big Lawsuit because of Investment Fraud (January 10, 2011)
S&T Seeks to Refinance Bonds (November 19, 2010)
Insolvent AvW Invest AG Cannot Submit Financial Statements (September 29, 2010)
C-Quadrat stake held by AvW to be sold by auction (September 24, 2010)
Chief Justice - AvW to pay investors (May 31, 2010)
Read More
Crime, AvW, Wolfgang Auer Welsbach, Fraud, Investment Funds, Capital Markets, Justice
Featured
See latest Vindobona Newsletter