Austrian former tycoon Benko will appeal fraud conviction, lawyer says

VIENNA, ‌Dec 12 (Reuters) - Austrian former property tycoon Rene Benko will ‍appeal against ‌his second conviction for insolvency-related fraud, his lawyer Norbert ⁠Wess said on Friday.

A court ‌in his home city of Innsbruck handed Benko a 15-month suspended prison sentence and fined him 4,320 euros ($5,100) on Wednesday for ⁠hiding two luxury watches and four pairs of cuff links from creditors by ​keeping them inside a safe in the ‌basement of a relative's house.

However, ⁠the prosecution had sought a conviction based on 11 watches and 120,000 euros in cash found in that ​safe along with the cuff links. A spokesperson for the prosecution said on Friday they would also appeal Wednesday's sentence on the grounds that it is too lenient.

Benko ​had denied ‍any wrongdoing in ​the case and had pleaded not guilty.

The case stems from a sweeping investigation into crimes that prosecutors suspect were committed in connection with the collapse of Benko's property group Signa from 2023 onward. It was Austria's biggest postwar bankruptcy and ⁠burnt investors including blue-chip companies in Germany and Switzerland.

Benko was found guilty of insolvency-related ​fraud at another trial in October and sentenced to two years in prison. He is also appealing against that conviction.

Prosecutors are appealing the fact that he ‌was found not guilty on a second count in the October trial.

($1 = 0.8516 euros)

(Reporting by Francois MurphyEditing by Gareth Jones)