Hungarian prosecutors said on Wednesday they had questioned and detained former National Bank of Hungary governor Gyorgy Matolcsy as a suspect in an investigation into foundations set up by the central bank during his tenure, Reuters reported. Prosecutors said the case involves suspected mismanagement causing a particularly significant financial loss, and that they had also detained others linked to the probe and initiated an international arrest warrant against two more people. Matolcsy refused to testify, prosecutors said. These are allegations under investigation, not a conviction.
Source: Reuters
The investigation centres on a network of foundations and companies created under Matolcsy, who led the central bank from 2013 to 2025. Since early 2025, prosecutors and police have been examining how more than 266 billion forints ($817 million) of central bank money moved through the foundations and their asset manager, Optima Investment Ltd, Reuters reported. Yaani: 266 billion forints is 26,600 crore forints, and $817 million is about $0.82 billion. The probe began after a State Audit Office report raised concerns about investments made by a foundation and by Optima.
Matolcsy's lawyer, Pal Batki, confirmed his client had been detained, telling Reuters: "The suspicion against my client can be summarized as a very complex set of allegations, which we have not yet had the opportunity to fully review and process." News site Telex, citing Batki, reported Matolcsy was questioned over suspected fraud causing significant financial losses and the use of a forged private document, and that prosecutors were seeking his arrest, with a court to decide this week. AFP, via NewsCentral TV, also reported the detention and the lawyer's account of the suspected offences.
Prime Minister Peter Magyar, who ousted Viktor Orban in an election in April, has said the central bank's past operations must be investigated, and his ruling party has set up a parliamentary committee for that purpose, Reuters reported. In May, prosecutors and police seized some 92 billion forints (about $300 million) in funds and securities in a related money-laundering investigation involving the foundations. Matolcsy said in April that the bank had no legal mandate to interfere in the foundations' operations because they were acting independently, Reuters reported. Sources: Reuters (Oct 21, 2026); Telex via Reuters; AFP via NewsCentral TV (Oct 21, 2026).