Austria has arrested Rene Benko, the founder of fallen property group Signa, on suspicion of trying to hide assets from insolvency administrators and creditors, prosecutors said on Thursday. Benko, 47,

Property tycoon René Benko has been placed in pre-trial detention for two weeks following his arrest, an Austrian court ruled on Friday.

The Austrian former real-estate investor René Benko, who is under investigation for fraud, was put into pre-trial detention by a court in Vienna on Friday. He was arrested in Innsbruck on Thursday due to the risk of him committing further offences and tampering with evidence,