Former Hungarian central bank governor Matolcsy detained in fraud probe
György Matolcsy, who led Hungary's National Bank for 12 years, was detained Wednesday and taken to the Central Chief Prosecution Office for Investigations.
Ex-central bank chief Matolcsy held for questioning over financial fraud
György Matolcsy, former governor of the National Bank of Hungary (MNB), was detained on Wednesday morning and brought to the Central Chief Prosecution Office for Investigations, euronews.com reports.
"My client is suspected of the felony of financial fraud causing significant financial loss and the misdemeanour of using a forged private document," his lawyer, Pál Bátki, told Hungarian newspaper Telex. Bátki added that questioning had not yet begun but was expected to take place later that morning.
Matolcsy, a longtime associate of former Prime Minister Viktor Orbán, headed the MNB for 12 years until 2025. In a statement issued on Wednesday, the prosecution office said it was conducting coordinated operations at several locations as part of an investigation into suspected breach of trust causing particularly significant financial loss. Prosecutors indicated further details would be released early in the evening, once initial investigative steps had been completed.
Being detained for questioning does not amount to pre-trial custody. It remains unclear whether Matolcsy will be permitted to leave following his questioning. Should he be formally named as a suspect, a court may decide whether to order his detention pending trial.
This is not the first time Matolcsy has faced scrutiny. In September, he was questioned as a suspect in a separate case involving alleged abuse of office and pressure on Erste Bank Hungary, part of Austria's Erste Group. He denied those allegations and was released after questioning.
The investigations centre in part on the Pallas Athéné foundations, established by the MNB under Matolcsy in 2014 and later merged in 2019 under the name PADME. Their asset manager, Optima Investment, handled almost 500 billion forints — more than €1 billion — in public funds. Hungary's State Audit Office identified an opaque network of companies and investments, serious management failings, and suspected criminal offences. PADME and Optima subsequently encountered severe financial difficulties. Hungarian media have also reported links between the investment network and associates of Matolcsy's son, Ádám. Matolcsy has previously denied any wrongdoing in relation to the foundations' funds.
Both the current MNB leadership and the State Audit Office have filed criminal complaints connected to the central bank's foundations. In May 2026, authorities seized cash and securities worth 91.8 billion forints. That same month, Hungary's parliament adopted a resolution establishing an inquiry committee into alleged abuses at the central bank.
Investigators are also examining suspected breach of trust linked to the foundations and the renovation of the MNB's headquarters, alongside a separate money laundering inquiry.
Source: Google News IE — Crime (en)