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Austrian tycoon goes on trial over fraud charges

o Benko accused of concealing assets

VIENNA: Fallen Austrian property tycoon Rene Benko went on trial yesterday over alleged fraud, the first charges in a wide-ranging investigation into the insolvency of his former real estate empire. Benko, once one of Austria’s richest men, founded the Signa Holding in 2000, but the debt-laden group crumbled in 2023 in the largest insolvency proceedings in the country’s history. Creditors, including in the United Arab Emirates and Thailand, claim billions of euros from Signa, whose vast portfolio used to include New York’s Chrysler Building and several prestigious department store chains in Europe. Wearing a black suit, but not in handcuffs, Benko arrived for the trial in the regional court in the city of Innsbruck, which was placed under tight security, Austrian media reported. The trial is expected to last two days, with the court possibly giving a verdict as early as today, according to a spokeswoman. Benko, 48, who has been in custody since being arrested at his villa in Innsbruck in January, could face up to 10 years in prison if he is found guilty. He has denied all accusations of wrongdoing. More than a dozen other suspects cannabis industry is “excessively” prescribing weed with little oversight and needs urgent regulation, the country’s top doctors association and pharmacists warned yesterday. Legalised for medical use in 2016, Australians are estimated to have spent up to US$500 million (RM2.1 billion) on licit pot last year, according to a think tank. But the Australian Medical Association (AMA) and the Pharmacy Guild of Australia said the industry was too often issuing prescriptions without “proper clinical oversight”. “Urgent action is needed to

Venezuela closes Norway embassy OSLO: Venezuela announced on Monday it had closed its embassy in Oslo, days after opposition leader Maria Corina Machado was awarded the Nobel Peace Prize. The Venezuelan government, which has not commented on Machado’s prize, said that the closure was part of a restructuring of its foreign service. Caracas also closed its embassy in Australia while opening diplomatic outposts in Zimbabwe and Burkina Faso, countries it considers “strategic partners in the fight” against “hegemonic pressures”. Norway’s Foreign Ministry said Venezuela had closed its embassy in Oslo without giving a reason. “It is regrettable. Despite our differences on several issues, Norway wishes to keep the dialogue open with Venezuela and will continue to work in this direction,” spokeswoman Cecilie Roang said in an email. Phone services at the Venezuelan embassy had been disconnected by Monday evening. Venezuela’s move comes three days after Machado was awarded the Nobel Peace Prize in Oslo. She had been prevented from running in the 2024 presidential election, in which the incumbent, Nicolas Maduro, was declared the winner despite opposition protests. On Sunday, Maduro, without mentioning Machado’s Nobel, referred to the 58-year-old laureate as a “demonic witch”, a term often used by the government. Machado was honoured “for her tireless work promoting democratic rights for the people of Venezuela and for her struggle to achieve a just and peaceful transition from dictatorship to democracy,” said Jorgen Watne Frydnes, the chair of the Norwegian Nobel Committee in Oslo. Roang, the Foreign Ministry spokeswoman, said that “the Nobel Prize is independent of the Norwegian government”. Machado dedicated her Nobel to the “suffering people of Venezuela” and to President Donald Trump, citing his “decisive support of our cause”. On Monday night she called for an investigation after two Venezuelan activists were shot and wounded in Bogota, Colombia. – AFP Machado awarded Nobel Peace Prize. – AFPPIC

Benko (centre) and his lawyer Norbert Wess (left) at the Regional Court of Innsbruck. – APA/AFPPIC

The AMA warned telehealth models – in which patients can be issued prescriptions online without an in-person doctor visit – were being “exploited as commercial pathways for unapproved products”. This year, newspaper the Age revealed that one doctor working for medical cannabis giant Montu had issued 72,000 prescriptions to 10,000 patients in just two years. Consultations with patients were scheduled to last no longer than 10 minutes, the daily reported. The global medical cannabis market is expected to grow to over US$65 billion by 2030. – AFP expand into Asia and North America. He points to New Zealand’s wine loving culture as being part of the success. But the company has run into issues trying to export the so-called wine, because officials assume it contains alcohol. “Some customs duties are trying to put the wine import taxes or export taxes on it until they realise that it’s not alcoholic.”– AFP total of €370,000 in a relatives’ safe. Last December, Austrian authorities questioned Benko in Innsbruck after Italy issued an arrest warrant against him for allegedly taking part in a criminal organisation. An Innsbruck court ruled that Benko should not be extradited as the case can be investigated in Austria. – AFP

In their submission to an Australian government inquiry into the industry, the AMA called for “comprehensive reform” of the way medical cannabis was bought and sold. Members working in emergency departments were calling for more resources to deal with growing numbers of patients with cases related to excessive intake of cannabis, including psychosis, they said. “Alarmingly, doctors are seeing medicinal cannabis use in people who have pre-existing psychotic conditions,” they warned. €300,000 to his mother, and made an advance payment for rent and operating expenses of his villa that prosecutors deemed “economically unjustifiable”. In September, Benko was hit with another insolvency-related fraud charge, with prosecutors accusing him and a co-defendant of hiding cash as well as 11 luxury watches, watch straps and cufflinks worth a

ensure medicinal cannabis is prescribed, dispensed and regulated in the same manner as other registered drugs of dependence,” AMA President Danielle McMullen said. While acknowledging evidence suggesting medical cannabis can help treat epilepsy, chemotherapy induced nausea or Multiple Sclerosis, doctors warned the system was being “exploited”. “There is little, or no evidence base for many of the conditions for which it is being prescribed, such as anxiety, insomnia or depression,” McMullen said. are also being investigated over the insolvency, with damages currently estimated at around €300 million (RM1.48 billion), according to prosecutors. In the current case at court, Benko is accused of concealing assets amounting to some €660,000 at the expense of creditor claims in the course of the insolvency. Benko in late 2023 allegedly gifted

Doctors warn of ‘excessive’ medical weed prescriptions SYDNEY: Australia’s medical

New Zealand firm sells non-alcoholic wine for pets WELLINGTON: Pets in New Zealand have a new way to unwind – non alcoholic wine. “perfect companion when celebrating with your furry family member”, it says. Roberts said he grew up with dogs and cats and remembered them getting scared during fireworks.

Owner John Roberts said he began crafting pet wine after seeing similar products, like beer for dogs, overseas. “It’s good for stressful situations,” he said. He says his family’s veterinary pharmaceutical company gave him the expertise to start making a product beneficial for pets.

The range of tipples sold by Auckland-based Muttley’s Estate has names like Pawt, Champawgne, Purrno Noir and Sauvignon Bark. The company bills its catnip infused concoctions as a mood enhancing luxury. The pet beverages, which do not contain grapes or alcohol, offer a

“There was no nutritional holistic option for the pets other than just dosing them up,” Roberts said. “We figured we could do more than just have it as like a treat.” The wine has quickly gained a customer base in New Zealand and Australia and the company hopes to