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Crime

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

Swiss Expert Criticizes Austria’s Role in International Money Laundering

OECD expert: “Austria is used as a gateway for international money laundering. It is doing too little to fight the phenomenon.” Only twelve convictions were made in 2009.

May 26, 2011

New Inspections at voestalpine Subsidiary

The German Federal Cartel Office today made new inspections at a local subsidiary of the Austrian steel company.

May 12, 2011

Inspections at German Subsidiary of voestalpine AG

Inspections by German Federal Cartel office at voestalpine Klöckner Bahntechnik GmbH.

May 11, 2011

According to its Employees, S&T is “Ripe for Bankruptcy"

The leadership of the troubled Viennese IT company is trying to hide an impending bankruptcy according to the company’s employees.

April 27, 2011

Rosenbauer: Settlement with German Cartel Office

Anti-trust proceedings of the Austrian Rosenbauer AG end with official notice of € 10.5m fine.

February 11, 2011

AvW Trial: Eight Years in Prison

An 8 years imprisonment sentence was imposed on the founder and CEO of AvW Group, Wolfgang Auer-Welsbach,

February 1, 2011

Skylink: Judicial Investigations are Presently being Conducted

The final report of the Audit Court on the Vienna International Airport Skylink project has been submitted. Criticism is devastating. Criminal investigations are starting.

February 1, 2011

Ruttenstorfer Acquitted

The trial against Ruttenstorfer, CEO of the Austrian oil company OMV took place yesterday. Ruttenstorfer had been charged for insider trading.

January 28, 2011

Suspicion of Insider Trading against Immofinanz’s CEO

The Austrian Financial Market Authority (FMA) is investigating Eduard Zehetner on suspicion of insider trading, according to the magazine "Profil".

January 25, 2011

Pricing Agreements in Austria's Transport Industry

The Austrian Federal Competition Authority has ncovered two shipping cartels involving several well-known carriers.

January 21, 2011

Hypo Group Purchase by BayernLB was "unrealistic"

The former chairman of BayernLB’s Supervisory Board said that the bank cheated itself on the purchase of the Hypo Group.

January 20, 2011

Austria's Competitiveness Increases Slightly

Austria rose one place, to the 21st, in the ranking of the most liberal economies.

January 14, 2011

Auer-Welsbach Pleads Not Guilty

The former CEO of the Austrian AvW stays by his actions on the first day of his trial.

January 12, 2011

Strong Merger Growth in Austria

The number of mergers has increased in 2010 by 12%. The Federal Competition Commission reported 238 cases.

January 12, 2011

AvW: Big Lawsuit because of Investment Fraud

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

January 10, 2011

New Controversy over the Hypo Group

According to the investigators, there would be no connection between the Austrian bank and Gribkowsky, the former member of the board of BayernLB

January 10, 2011

Austrian Tobacco Industry Fears Cigarette Smuggling

According to the presently Japanese Austria Tabak, 20% of cigarettes are already smuggled. The tobacco tax is expected to increase this trend even more.

January 10, 2011

Suspicion on Money-Laundering at Hypo Group

Money transfers between the Carinthian Bank, Switzerland, Liechtenstein and the Caribbean are currently being checked extensively by the judiciary.

January 7, 2011

Former Member of the Board of BayernLB Arrested

Gerhard Gribkowsky, whose foundation in Austria was concealed to the German judiciary and is now known, is in custody

January 5, 2011

Black Economy is still Difficult to Control in Austria

About 14% of the economic product evades the Treasury in the Austrian economy, but experts say the trend is declining again.

January 5, 2011

Hypo Group: Little Enlightment Expected from Grasser and Berlin

The Chairman of the Inquiry Committee on the Hypo Group expects little gain of information by the summons of Karl-Heinz Grasser and Tilo Berlin.

January 4, 2011

Secret Foundation of BayernLB in Austria

In the hearings on the purchase of Austria's Hypo Group, a former Member of the Board of BayernLB concealed the existence of a foundation in Austria.

January 3, 2011

New Responsibilities for the Financial Market Authority

As of 2011, the Austrian Financial Market Authority (FMA) has to face new challenges. The focus is on the fight against money laundering.

January 3, 2011

Illegal Employment Grows

One of four Austrian firms employs illegal workers from abroad.

December 29, 2010

Sanader Remains in Extradition Custody

Custody prior to extradition was imposed on the former Croatian Prime Minister Sanader. He complains about the "arbitrariness of the Croatian authorities".

December 28, 2010

Investigations Against Sanader Continue

The investigation of Austrian and Croatian authorities against the former Prime Minister of Croatia in the Hypo affair are being intensified. Many questions remain unanswered.

December 23, 2010

Hypo Group: Sanader Denies Payments of Commissions

The former Croatian Prime Minister Ivo Sanader, questioned in Salzburg, denies having ever received money from the Hypo Group.

December 22, 2010

Accusations Against Sanader Grow Stronger

Many clues point to improper activities by former Croatian Prime Minister Ivo Sanader in connection with the Hypo Group.

December 16, 2010

Madoff Affair: Accused Defend Themselves

The accused Sonja Kohn and Stefan Zapotocky defend themselves vehemently against accusations and allegations. Both are, according to the accusation, part of the Madoff system.

December 14, 2010

Demands against the Hypo Group Amount up to € 300m

The investigation team appointed for the Hypo Group has determined property damages for over 300m. This amount is the basis for eventual claims.

December 14, 2010

Contradictions about Sanader's Connection to Carinthia

The connection between the former Croatian Prime Minister Sanader and the Carinthian Hypo Group is multifaceted, but also full of contradictions.

December 14, 2010

Madoff Proceedings: Billion Lawsuit against Bank Austria

The former chairman of Bank Medici, Sonja Kohn, is said to have managed the Madoff system for years. A lawsuit has been filed from the US.

December 13, 2010

OMV: Operating Result of Over € 2.0bn Expected

The CEO of the Austrian oil group, Wolfgang Ruttenstorfer says: "2010 was a good year for OMV”.

December 10, 2010
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