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Auer-Welsbach Pleads Not Guilty
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…
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