Hungarian police investigate oligarchs linked to Viktor Orbán for asset flight

Hungarian police have launched an investigation into suspected misappropriation of funds involving oligarchs connected to Prime Minister Viktor Orbán.

The inquiry follows reports that nearly three billion euros in assets were moved abroad ahead of recent elections.

Authorities confirmed that the case is being investigated against unknown perpetrators and may involve misappropriation causing significant financial damage, an offence punishable by five to ten years in prison.

A separate preparatory procedure is also underway to assess possible further crimes.

The investigation was prompted by public and political pressure, including from opposition figures Péter Magyar and former Momentum politician András Fekete-Győr, who accused authorities of failing to prevent the so-called "asset flight." Magyar, who won the Hungarian elections on 12 April, has pledged to recover assets illegally acquired by oligarchs close to Orbán.

This effort will be managed by the newly established National Office for Asset Recovery and Protection, a key task for the incoming government.

Details about the office's operations have not yet been released.

Reports prior to the elections indicated that businesspeople linked to the ruling party's economic network began transferring assets abroad.

For example, Ádám Matolcsy, son of former central bank governor György Matolcsy, reportedly shipped valuable movable assets, including a collection of Porsche cars, from Hungary to Dubai.

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