---
title: "ARUAL Stiftung: reported beneficiaries and investment chains"
language: en
canonical: https://osint.v3rta.com/dossiers/signa-holding/participants/arual-stiftung/
as_of: 2026-10-10
keywords: ["SIGNA Holding GmbH","SIGNA Prime Selection","SIGNA Development Selection","René Benko","Familie Benko Privatstiftung","Laura Privatstiftung","Ingbe Stiftung","Supraholding","ownership","insolvency","corporate governance","asset recovery","criminal proceedings"]
---

# ARUAL Stiftung: reported beneficiaries and investment chains

**Question.** How was ARUAL connected to Laura, property holdings and the SICAR?

**Answer.** Retained accounts describe Laura as ARUAL’s economic founder and first beneficiary, with property and investment arrangements operating through separate companies.

## Economic founder and beneficiary provisions

- Analysis: A retained account of a tax-advisory opinion names Laura Privatstiftung as ARUAL’s economic founder and sole first beneficiary. It says natural persons become prospective beneficiaries if Laura ceases to exist or enforcement is pursued against Laura’s assets. The foundation was described as deposited with the Liechtenstein register court in late 2008, without a publicly visible entry. The rules describe a contingent benefit arrangement; they do not by themselves establish an unlawful asset transfer or identify every potential individual beneficiary. [s-d242]

## Property companies and gold-funded acquisition

- Analysis: The retained Garda account describes an indirect chain from ARUAL to Swiss Vorstadt Holding AG and then Luxembourg Landgraf SA. Landgraf let Villa Ansaldi to SIGNA Holding as its Italian representation. Holding was the tenant; Landgraf was the landlord. The account gives EUR 420,000 annual rent and says Holding-funded improvements were intended to reduce effective rent to EUR 20,000 a month. The chain does not make Holding the property owner or collapse the Swiss and Luxembourg companies into the foundation. [s-d242]
- Analysis: Another reported 2020 transaction concerned ARUAL’s purchase of all shares in Luxembourg Desno Participations from Laura Galene GmbH, itself wholly owned by Laura Privatstiftung, financed by gold sales. A provisional balance sheet reportedly showed CHF 7.8 million of physical gold in 2021 and none in 2022. That change does not establish where the proceeds went or prove unlawful depletion. [s-d242]

## Bery, Laura and the historical trust arrangement

- Analysis: The retained account of a 2016 memorandum names ARUAL as beneficiary of Bery Immobilienbeteiligungs-Anstalt. In 2008, Bery and Laura entered a joint venture to establish RB International Development Fund S.C.A. SICAR in Luxembourg. Laura held 80% of the fund’s limited-partner interests in trust for Bery until 2010, when the trust arrangement was dissolved and economic ownership reportedly passed to Laura. That sequence distinguishes the trustee, economic interest holder, foundation beneficiary and fund. [s-d246]
- Analysis: A later report says an earlier money-laundering inquiry concerning the SICAR drew attention to Bery and led to questioning Benko. The proceeding against Benko, Ingeborg and a Liechtenstein trustee was discontinued. The historical investigation is neither a current charge nor a money-laundering finding, and its mention alone does not establish a direct Benko–Bery business role. [s-d246] [s-d47] [s-d53] [s-d249]

## Sources

- [s-d242] Media source · s-d242
- [s-d246] Media source · s-d246
- [s-d47] Media source · s-d47
- [s-d53] Media source · s-d53
- [s-d249] Media source · s-d249