AvW: Big Lawsuit because of Investment Fraud

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…

This article includes a total of 222 words.

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