Brokerage scandal – Quaestor owner reported problems to Orban, central bank on same date

Budapest (MTI) – Csaba Tarsoly, the owner of brokerage firm Quaestor, reported the problems at his firm to Prime Minister Viktor Orban in a letter on March 9, the same date when he briefed the central bank about the situation, the government spokesman said on Sunday.

Andras Giro-Szasz told commercial news channel ATV that Orban instructed the ministries not to keep their resources at brokerages fourteen days earlier, on February 25. Giro-Szasz presented the letter to ATV during the interview but said he had no authorisation to reveal further details.

He said Orban was not in a position to make arrangements on March 9.

He rejected reports about insider information and added that such “baseless accusations were driven by political motives.”

Giro-Szasz said the two-page letter contained a description of the brokerage’s situation and a proposed solution. He added that it was the first occasion that Tarsoly told Orban about the situation.

In the letter Tarsoly said he planned to announce bankruptcy and added that the company had 300 billion forints worth of real estate and investment that could be used in the future to prevent damages to 50,000 clients, rescue 800 jobs and preserve the confidence in the finance and capital market, Giro-Szasz said.

Photo: superiorhirek.hu

Source: http://mtva.hu/hu/hungary-matters