György Matolcsy, the former governor of the National Bank of Hungary (MNB), was detained on Wednesday as part of an investigation into the foundations established by the central bank during his tenure.
Prosecutors and police have been investigating since the beginning of 2025 a foundation set up by the National Bank of Hungary (NBH) under the previous leadership, after a report from the Court of Audit raised questions about the investments made by the foundation and its asset management company, writes Reuters.
In April, Matolcsy stated that the central bank did not have a legal mandate to intervene in the activities of the foundations, as they "acted independently."
Citing Matolcsy's lawyer, Pál Batki, the publication Telex reported that the former governor was detained Wednesday morning, along with other individuals involved in the investigation.
According to Telex, Matolcsy was scheduled to be interrogated during the day, suspected of fraud causing significant financial losses and the use of a falsified private document.
"The Central General Prosecution for Investigations is carrying out coordinated investigative actions today as part of the ongoing investigation into the crime of fraudulent management of funds, which caused a particularly significant financial prejudice," prosecutors said in a statement.
They refused to provide further details, stating only that the actions are related to the so-called NBH case and are taking place in multiple locations.
Prime Minister Péter Magyar, who ousted Viktor Orbán from power following the April elections, stated that the previous activities of the central bank need to be investigated. His ruling party has set up a parliamentary commission for this purpose.
In May, prosecutors and police in Hungary seized funds and securities worth approximately 92 billion forints (300 million dollars) in an investigation into money laundering involving foundations set up by the central bank several years ago.
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