AvW: Big Lawsuit because of Investment Fraud

Professional Services › Financial Services ♦ Published: January 10, 2011; 23:56 ♦ (Vindobona)

One of the largest proceedings in Austrian economic history is being conducted against the former financial services provider AvW.

AvW: Big Lawsuit because of Investment Fraud / Picture: © Vindobona.org

In the lawsuit against the CEO of the Carinthian financial services provider AvW, Wolfgang Auer-Welsbach, 8.500 private parties are involved. Auer-Welsbach, is accused of serious professional fraud. The trial starts on Tuesday.

The defendant is being sued for damages over € 420m allegedly caused by the issuance of participation certificates. The prices are said to have been…

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Crime, AvW, RHI, S & T, Wolfgang Auer Welsbach, Fraud, Justice
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