The Spanish Riding School is facing a severe financial crisis following the discovery of significant missing funds. Internal audits have revealed that two former employees responsible for finances allegedly embezzled large sums of money between 2024 and 2025.
The suspected employees are alleged to have made multiple withdrawals ranging from €30,000 to €70,000. While they claimed the money was being transferred to another account belonging to the school, the funds were reportedly diverted to themselves, their relatives, and an acquaintance in South Africa.
Scale of the Financial Loss
The total amount allegedly withdrawn from the institution’s accounts is estimated at €970,000. In addition to these account withdrawals, another €250,000 is reported to have disappeared from a safe.
The employees under suspicion are no longer employed by the institution. The irregularities were only uncovered during recent internal reviews of the school’s financial management.
Legal Action and Management Overhaul
Alexandra Kaszay, who took over as Managing Director in April after previously leading the Hofburg Congress Center, has announced legal steps. The new management is filing a statement of facts with the Vienna Public Prosecutor’s Office.
Beyond legal prosecution, the school is evaluating how to strengthen its internal control and security mechanisms. Management is also examining potential damage claims against the former Managing Director, Alfred Hudler.
Controversy Surrounding Former Leadership
Alfred Hudler, who led the institution from late 2022 until his removal in September 2025, has denied any involvement. He was previously dismissed by the supervisory board for “grave misconduct” involving travel and expense claims.
Hudler’s lawyer, Norbert Wess, stated that his client was “completely taken aback” by these new allegations. Wess argued that Hudler had no reason to cover up such activities and noted that previous investigations by the Vienna Public Prosecutor’s Office into Hudler’s conduct were recently closed as no criminal behavior was proven.
Future Outlook
The institution, which is entirely owned by the federal government, may now focus on a total reconstruction of its financial protocols. CEO Alexandra Kaszay has expressed a desire to move past “years of structural problems.”
The school is likely to prioritize the preservation of its cultural heritage, the Lipizzaner horses, and the High School of classical horsemanship as it works to fully resolve the issues of the past.
Frequently Asked Questions
How was the money allegedly stolen?
Two employees suspected of managing finances allegedly withdrew amounts between €30,000 and €70,000 multiple times, falsely claiming the money was being moved to another school account.
Who is Alfred Hudler and why is he mentioned?
Alfred Hudler is the former Managing Director who was removed in September 2025. The school is currently reviewing whether he may be liable for damage claims related to the missing funds.
What is the current status of the investigation?
The new management has announced legal action and is submitting a report to the Vienna Public Prosecutor’s Office.
Do you believe stricter federal oversight could have prevented these financial irregularities in such a historic institution?
