Overpriced bus procurement: NNI suspects eight former executives
The National Investigative Office has suspected eight former company leaders in connection with the Volán companies of unfaithful management and money laundering. The financial damage is estimated at approximately 10 billion forints.
Ten-billion-forint financial damage at Volán companies: eight suspects
According to police.hu, the National Investigative Office (NNI) on 10 September suspected eight former company executives of unfaithful management causing particularly significant financial damage and money laundering – among them the former chief executive of the Hungarian State Treasury Management Company Plc.
The procedure is based on a complaint filed by the Volán companies, following which an investigation has been ongoing against an unknown perpetrator for years. To conduct a comprehensive investigation of the case, the NNI established a separate investigative team two months ago.
According to available data, between 2015 and 2018 approximately 10 billion forints of financial damage occurred at the state-owned Volán companies. The suspicion is that 608 used buses were not procured in accordance with the economic interests of the transport centres, but individual interests guided the decisions. Suspicions of overpricing also arose in connection with the purchase of the headquarters of one Volán company in Kecskemét, which caused damage of at least 550 million forints to Volán.
The criminal assets obtained from the unfaithful management were subsequently transferred through money laundering. Real estate projects were financed in the background, cash withdrawals exceeding one billion forints took place, and high-value vehicles were also purchased. The investments were realised in the XII and IX districts, and in Balatonvilágos and Törökbálint.
The then chief executive of the Hungarian State Treasury Management Company Plc – who exercised ownership rights at the Volán companies – was aware of state-owned properties which, if sold, promised significant profit. The company executives transferred the criminal assets through intermediary companies, using sham loan agreements, to companies affiliated with their interests, which then invested it in real estate projects.
The investigators carried out house searches at properties and flats linked to the suspects: they seized documents, contracts and papers, and extracted data from electronic devices.
According to the NNI statement, the investigation of the case continues, and further suspects are expected. The recovery of criminal assets is proceeding in a separate procedure at the NNI Asset Recovery Office.
Source: Google News HU — Crime (hu)