In the Cigna case, the Economic and Corruption State Prosecutor’s Office (WKStA) has for some time revealed explosive facts, the content of which has now been made public via KURIER. A subsidiary of a well-known German insurance company said it was the victim of a “fraud case at Cigna Group”.
At the center of the case is Forum Donnastad Holding GmbH, whose shares are indirectly held by Cigna Development Selection.
The urban development project “Vienna Twentytwo” has been under construction in Vienna-Donnastadt since 2019. Four components have already been completed and two will follow by the end of 2025. ARE Austrian Real Estate Development and Forum Donastad Holding are involved in the project implementation company. With the bankruptcy of Cigna Development, the shares of Forum Donastad Holding were transferred to ARE at the end of January 2024. Cigna is no longer involved in this program.
Confident
Let’s turn the wheel back two and a half years. In December 2021, Forum Donastad Holding financed 45 participation certificates with a total nominal value of 22.5 million euros to the “Vienna Twentytwo” project. A subsidiary of a German insurance company subscribed to these profit participation certificates.