Austrian police arrested real-estate magnate René Benko Thursday on suspicions he hid assets from creditors of his bankrupt companies and tried to obstruct justice. Benko, the subject of a Wall Street

The founder of fallen Austrian property group Signa, Rene Benko, has been arrested on suspicion of falsifying a receipt and trying to conceal assets from insolvency administrators and creditors, prosecutors said on Thursday.

Austrian authorities arrested Rene Benko, founder of the insolvent Signa property and retail empire, as part of investigations into suspected fraud.