Central Bank handed documents to prosecution to investigate Matolcsy era
The Hungarian National Bank has handed over to the prosecution documents relating to suspected securities transactions between the Optima and Quartz groups. The investigation has been ongoing since February 2025, and no suspects have been named so far.
Central Bank supplied documents for investigation into final days of Matolcsy era
According to Index, the Hungarian National Bank has handed over to the prosecution documents and information concerning a securities loan transaction that was attempted during the former central bank leadership's tenure between the Optima Group and the Quartz Group.
The central bank's new management stated in a statement provided to Index by the MNB: "The new leadership of the Hungarian National Bank is committed to transparent and responsible management and will continue to assist the work of the investigating authorities."
The disputed transaction and the criminal complaint
In the final days preceding the change of central bank governor, the former leadership of the central bank and foundations attempted to withdraw a substantial portion of the PADME Foundation's assets from Optima's control and redirect it to Quartz Asset Management. The new MNB leadership prevented this transaction and filed a criminal complaint in April 2025.
The Central Prosecution Office for Investigation has questioned several witnesses over the past two months, though no one has been officially named as a suspect.
Investigation background: suspected 300 billion forint damage
The police and the Central Prosecution Office for Investigation have been investigating crimes affecting the MNB since February 2025. The investigation is based on suspicion of unfaithful management and covers both the activities of the MNB foundations and the renovation of the central bank's headquarters building.
The investigation was initiated by the State Audit Office: the authority filed a complaint concerning the Pallas Athéné Domus Meriti Foundation (PADME), where it is suspected that damage of as much as 300 billion forints could have been incurred — both at the central bank foundation and at the Neumann János University foundation in Kecskemét.
According to the State Audit Office's findings, PADME lost several hundred billion forints from its original 300 billion forint assets as a result of erroneous or intentionally harmful investment decisions. PADME's asset management company, Optima Investment Ltd, concealed public funds through a complex corporate network and system of private equity funds. According to the audit office report, the son of the former MNB governor, Ádám Matolcsy, and his circle accumulated private wealth worth several billion forints through the companies involved in the transactions.
Headquarters renovation and the Raw Development case
In March 2025, the MNB under Mihály Varga filed another complaint, this time concerning the renovation of the central bank's headquarters. The contractor was Raw Development Ltd, whose owner is Bálint Somlai — who is connected to Ádám Matolcsy through personal and business ties. The police and the prosecution office have also been investigating this case since February 2025.
Source: Index