Hungary's former Central Bank chief arrested

Hungary's former Central Bank chief arrested

Hungarian police arrested the country’s former Central Bank governor on Wednesday, a significant step in the new government’s pursuit of suspected financial abuses during the rein of Viktor Orban, whose government has been accused of widespread corruption.

Axar.az reports, citing The Associated Press, that Prime Minister Peter Magyar wrote in a post on Facebook that the former governor, Gyorgy Matolcsy, who had also served as finance minister, was in custody, without providing further details.

Since taking office earlier this year, Magyar’s government has prioritized investigating suspected financial abuses committed by Orban-era officials.

The arrest followed a statement from Hungary’s Central Prosecutor’s Office earlier in the day, saying it was “carrying out coordinated investigative actions” in several locations in connection with a Central Bank-related investigation into criminal misappropriation of funds.

It did not mention Matolcsy by name but said more details about the case would come later.

It should be noted that Hungarian media had previously reported that Matolcsy was suspected of corruption and the misuse of funds from a special fund established by the Hungarian National Bank.

Source: en.axar.az