Budapest (MTI) – A municipal court ruled on Thursday that Csaba Tarsoly, the former head of failed brokerage firm Quaestor, should stay in preliminary detention.
The court also maintained the house arrest of Tarsoly’s wife, and detention of a third suspect in the major fraud case.
In his justification, the judge said that the suspects, facing imprisonment between 5 to 25 years, might escape and hide to avoid prosecution.
All suspects appealed against the ruling.
Tarsoly and 10 other suspects are charged with running a criminal organisation in the form of the Quaestor group from 2007 with the primary goal of taking money and securities from investors.
Quaestor failed last year after it was found to have sold some 150 billion forints (EUR 483.5m) of unsanctioned bonds.