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AvW Trial: Eight Years in Prison
People ♦
Published: February 1, 2011; 01:00 ♦ (Vindobona)
An 8 years imprisonment sentence was imposed on the founder and CEO of AvW Group, Wolfgang Auer-Welsbach,
AvW Trial: Eight Years in Prison / Picture: © AvW
The not yet final verdict on Auer-Welsbach accuses him of serious professional fraud, embezzlement, false accounting and forgery of evidence. He has confessed to the charges, which was recognized as a mitigating submit an appeal.
The accused made himself responsible of having harmed a total of 12,500 investors of the AvW Group; the extent of the damages is estimated at € 450m.…
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