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.…