Former Hungarian Central Bank Governor Matolcsy arrested on fraud charges
György Matolcsy, who led Hungary's central bank from 2013 to 2025, was detained on suspicion of economic fraud and use of forged documents.
Ex-central bank chief held as Hungary pursues Orbán-era corruption
Hungarian police arrested former Central Bank governor György Matolcsy on Wednesday, myjournalcourier.com reports, in what marks a significant escalation in Prime Minister Péter Magyar's investigation into alleged financial abuses under Viktor Orbán's government.
Magyar confirmed on Facebook that Matolcsy — who also served as finance minister and as economy minister between 2010 and 2013 — was in custody, offering no further details. Hungary's Central Prosecutor's Office had earlier announced it was "carrying out coordinated investigative actions" at several locations in connection with a Central Bank-related investigation into criminal misappropriation of funds, without naming Matolcsy directly.
His lawyer, Pál Bátki, told Hungarian outlet Telex that Matolcsy was detained on suspicion of economic fraud that caused significant financial damage and of using a forged private document. Matolcsy has denied any wrongdoing.
Matolcsy led Hungary's central bank from 2013 until 2025 and was regarded as one of Orbán's closest economic allies. Much of his tenure was shadowed by accusations of corruption tied to foundations established by the bank, which received hundreds of billions of forints — equivalent to hundreds of millions of dollars — in public funds.
A criminal complaint filed last month alleged embezzlement, negligence, fraud, and abuse of office during Matolcsy's time as governor. The complaint followed an internal audit of real estate investments that the bank found had been purchased at inflated prices, causing the institution significant financial damage. It remained unclear on Wednesday whether the detention was connected to those property purchases or to the endowments made to the bank's foundations.
Magyar's government, which took office earlier this year, has made investigating suspected abuses by Orbán-era officials a stated priority. In an interview with the Associated Press on Tuesday, Magyar said it was evident that "certain members of the previous government as well as oligarchs, businessmen and family members connected to them committed serious crimes, typically corruption crimes, both with national funding and EU funding."
In July, his administration established the National Asset Recovery and Protection Office, a body with investigative and prosecutorial powers to pursue cases of misused public funds. Magyar described it as a "superauthority" able to enlist police, prosecutors and the national tax authority so that complicated corruption cases do not take years to resolve.
Source: Times of Malta