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Bulgaria: Massive Penalty at OMV Subsidiary Threatens
Bulgaria´s Minister of Transport claims the maximum penalty for OMV´s subsidiary, which would reach up to € 1.0bn.
March 24, 2012
Windtec: Espionage Scandal Does Not End
A former employee of the AMSC-owned Windtec alleges to be pursued by a secret service. The U.S. should have intervened at the Austrian justice.
March 21, 2012
Bulgaria Suspects OMV, Lukoil, Rompetrol of Price Fixing
Bulgaria’s antitrust regulator said four fuel retailers including the Bulgarian units of OMV AG of Austria, OAO Lukoil , Russian oil producer, Rompetrol Rafinare SA and Petrol AD are suspected of being involved in price fixing.
March 17, 2012
Corruption: Costs of € 27bn for Austrian Economy
Experts say that corruption increases in Austria. In 2012, adverse effects of € 27bn are expected.
March 16, 2012
Voestalpine Closes TSTG Schienentechnik
The shutdown of German TSTG is due to a “lack in efficiency”. Because of the current cartel proceedings, the Austrian steel company has to build provisions of € 205m.
March 13, 2012
BWB Finishes Razzia at Rewe Austria
Due to suspicions of price arrangements, the Austrian Federal Competition Authority (BWB) secured comprehensive documents of Rewe Austria. The longest razzia in BWB´s history is finished.
March 9, 2012
Bank Insolvency Act to be Finished by Summer 2012
According to the government´s plans, the Austrian financial market authority (FMA) should obtain more competences.
March 7, 2012
Rewe is Said to Constrain Investigations
The Austrian Federal Competition Authority (BWB) suspects Rewe Austria to have made price arrangements. Rewe should have constrained BWB´s investigations.
March 6, 2012
Razzia at Rewe Austria Continues
Investigators announced to have found substantial evidence at Rewe Austria, which is suspected of having made price agreements.
March 3, 2012
Rewe Suspected of Price Arrangements
The Austrian Federal Competition Authority (BWB) suspects Rewe Group for having made price arrangements with competitors and suppliers.
February 28, 2012
Telekom Austria Faces Severe Image Difficulties
Many details over bribery payments from Telekom Austria to politically exposed persons were revealed. Now, the company sues its former executives.
February 18, 2012
German Justice Puts Pressure on Former Hypo Group Executives
In order to get damage compensation, the German justice opens legal proceedings against the former CEO´s of Austrian Hypo Group, Tilo Berlin and Wolfgang Kulterer.
February 18, 2012
Rasinger: „Telekom Austria Needs New Executives“
The spokesman of Austrian retail investors, Wilhelm Rasinger, wants to change Telekom Austria´s management, which are “untroubled”.
February 14, 2012
CA Immo Brings an Action Against Grasser
The former Minister of Finance, Karl-Heinz Grasser, faces a lawsuit by the Austrian real estate company. CA Immo claims € 200m.
February 7, 2012
Bank Austria Lost Madoff Case
Bank Austria distributed Primeo Funds, issued by the U.S. former investment banker Bernard Madoff. The prospectus did not contain sufficient information, a Viennese court decided.
January 13, 2012
Voestalpine Involved in Further Cartel
According to German newspaper reports, the Austrian steel producer is involved in another cartel in the rail market.
December 28, 2011
Benko Relieved from Money Laundering Accusations
Investigations against the Austrian real estate investor will end soon, German newspapers report. Benko bids for Metro´s subsidiary Kaufhof.
December 20, 2011
Kaufhof: Investigations Cause Delay in Sale Process
Suspicions of money laundering against the Austrian real estate investor René Benko prevent the take-over for the time being.
December 13, 2011
UK Court Freezes Assets of Kohn
A British judge froze funds of 27m pounds (€ 31.4m) of the Austrian former investment banker Sonja Kohn, who is accused to have participated in Bernard Madoff´s frauds.
December 3, 2011
Corruption in Austria Is Growing
Austria has lost six positions since 2005 and now only ranks 16 in Transparency International’s corruption index.
December 2, 2011
Investigations Against Benko
The Austrian real estate investor Benko is suspected for money laundering. Benko denies and sees a link to the Kaufhof-deal.
November 26, 2011
A-Tec: Investigations Against Kovats
Investigations by the Austrian Public Prosecution Authority against the CEO of A-Tec, Mirko Kovats, proceed. The suspicions are massive.
November 19, 2011
Petrom Accused for Breach of Antritrust Rules
The Romanian subsidiary of the Austrian OMV, Petrom, is confronted with alleged breach of antitrust regulations.
November 16, 2011
Business Crime: Every Second Firm Concerned
In Austria, business crime becomes more and more obvious. Often alertness is not really given.
November 1, 2011
OeNB Dismisses Management of Money Printing Subsidiary
Three persons were fired for suspicion of unlawful actions. € 14m have allegedly been paid as bribe to secure a deal with Syria.
October 28, 2011
Corruption Suspicions Against Penta
The Czech-Slovak investment company, which also bid for the Austrian A-Tec, is accused to have paid bribes to the Czech Minister of Finance.
October 19, 2011
U.S. Company Claims $ 25m From Andritz
The U.S. company Ovalstrapping accuses the Austrian technology Company Andritz to have copied its technologies. Andritz defends itself.
October 19, 2011
FMA Investigates Against Treichl
The Austrian Financial Market Authority has severe suspicions against Erste Group´s CEO Andreas Treichl.
October 18, 2011
Ranking: Austria Among the Most Non-Transparent Financial Centers Worldwide
Today, the Financial Secrecy Index (FSI) of the Tax Justice Network (TJN) has been published. 73 countries have been analyzed.
October 4, 2011
Gas Cartel Investigations Continue
Another office has been searched on Wednesday. Austrian oil and gas company OMV does not see itself in the focus of prosecution.
September 28, 2011
Cartel Suspicions Against OMV
The Commission of the EU suspects ten gas companies of market abuse. The Austrian OMV wants to cooperate with the authorities.
September 27, 2011
AMSC Cuts Jobs in Austria
The Amercian Superconductor Corporation (AMSC) decided to cut 150 jobs at its subsidiary Windtec. In Austria, 40 positions are concerned.
September 13, 2011
New Major Shareholder for Telekom Austria?
After the exit of a U.S. fund, investor Ronny Pecik might acquire a substantial stake in the Austrian telecommunication group.
September 9, 2011
Austrian Competitiveness Shrinks Further
According to a market survey of the consulting group Ernst & Young, Austria´s international competitiveness has still worsened and fell from rank 18 to 19.
September 7, 2011
Green Party: Accusations against OMV
The member of the Austrian Parliament, Peter Pilz (Greens) considers bribe payments from the oil and gas company OMV to Mensdorff-Pouilly.
September 6, 2011
Ex-Chancellor Schüssel Resigns from Parliament
Wolfgang Schüssel retires from the political stage as a consequence of the market manipulation and corruption affair at Telekom Austria.
September 5, 2011
Rosenbauer: CEO Wagner Retires
The boss of the Austrian manufacturer of fire fighting vehicles draws the consequences from the company’s involvement in cartel agreements on the German market.
August 26, 2011
German Municipalities to Sue Rosenbauer
After the antitrust fine of € 10.5m, the Austrian manufacturer of fire fighting vehicles might face damage payments to German municipalities. CEO Wagner refuses to step back.
August 23, 2011
Financial Market Authority Terminates Inquiry against CEO of Immofinanz
The head of the Austrian real estate group had been accused of insider trading and delayed shareholder information.
August 12, 2011
Hypo: New Charges against Former CEO Kulterer
The Carinthian bank’s former CEO and three other persons are accused of having caused a damage of € 5.5m.
August 12, 2011
Telekom Austria: Ex-Manager Applied for Leniency
Internal investigations also revealed dubious real estate transactions in the Austrian telecommunication group.
August 11, 2011
BayernLB Demands Rescission of Hypo-Deal
The German bank has taken action against the employee fund which is accused of having misled the management about Hypo’s equity base.
August 10, 2011
Former Board Member of Telekom Austria Admits Share Price Manipulation
Pressure is growing in the affair: Three former board members are said to have been involved in market manipulation.
August 10, 2011
Corruption Scandal at Telekom Austria
After internal inspections, the Austrian telecommunication group sent an extensive report to the public prosecutor’s office. One employee has been fired already.
August 8, 2011
Suspicion of Price Fixing in Building Material Industry
Inspections have taken place at several companies since the beginning of the week. Big players of the industry are also under suspicion.
August 4, 2011
VIG: Trouble at Romanian Subsidiary
The Austrian insurance group has reportedly lost millions due to illegal actions at one of its Romanian subsidiaries. Company representatives denied any misconduct.
July 27, 2011
German Rail Cartel: Increasing Pressure on voestalpine
The German Federal Cartel Office made new inspections at a local subsidiary of the Austrian steel company. According to press reports, price fixing on the German rail market continued until 2011.
July 20, 2011
House Searches at A-Tec’s Management
Serious allegations have been made against Board Members of the Austrian conglomerate which is currently negotiating with potential investors. Eight houses have been searched.
July 20, 2011
voestalpine is the Leniency Applicant in the German Rail Cartel
The Austrian steel company applied for leniency in the case of anti-competitive practices in the German rail tracks market. The group expects to be exempted from any fines.
July 1, 2011
Charges against Former Board Members of BayernLB
Accusations relating to the acquisition of the Austrian Hypo Group: breach of duty, embezzlement of bank funds.
June 3, 2011
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