Hungarian billionaire Dániel Jellinek has been granted release from pre-trial detention under strict conditions in a major corruption investigation involving the country’s former state-owned bus operator.

Hungarian billionaire to be placed under house arrest in major corruption case

Hungarian billionaire Dániel Jellinek is set to leave pre-trial detention under strict conditions in a major corruption investigation involving a state-owned transport company. Another prominent businessman, however, will remain behind bars.

Hungarian billionaire businessman Dániel Jellinek is to be released from pre-trial detention and placed under house arrest with electronic monitoring as a major corruption investigation continues. The decision was made on Friday by the Buda Central District Court, according to 24.hu.

Meanwhile, the court extended the detention of Norbert Szivek, former head of Hungarian National Asset Management, by another three months.

Both men were arrested in September in connection with suspected corruption involving Volánbusz, Hungary’s former state-owned regional bus operator.

Why was Jellinek granted house arrest?

According to the Budapest Metropolitan Court, which released details of the ruling, Jellinek had cooperated with investigators and provided a substantive statement during the proceedings.

Judges concluded that his suspected involvement in the alleged corruption network was relatively limited, reducing the risk that he could interfere with evidence or influence other individuals connected to the investigation.

However, the court still considered him a potential flight risk and found that the risk of further criminal activity had not disappeared. As a result, Jellinek must remain at a designated property, with his movements monitored electronically.

The court reached a different conclusion regarding Szivek, who is suspected of having played a more central role in the alleged corruption scheme.

Investigators are still examining the case and identifying potential witnesses. Judges therefore considered it necessary to keep Szivek in detention to prevent possible interference with the investigation. The court’s ruling is not yet final, and the criminal allegations against both men remain under investigation.

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What is the Volánbusz corruption case about?

The investigation centres on suspected financial irregularities involving Volánbusz and related regional transport companies between 2015 and 2018.

According to investigators, more than 600 second-hand buses were allegedly purchased at inflated prices, causing estimated financial losses of around HUF 10 billion.

The authorities are also examining other transactions involving publicly owned assets and suspected financial misconduct. The case has attracted particular attention because of the prominent business figures involved.

Jellinek is the founder of the Indotek Group, a major Hungarian property investment company with interests in commercial real estate.

Szivek previously headed Hungarian National Asset Management, the state organisation responsible for exercising ownership rights over numerous publicly owned enterprises. Both were taken into custody in September as part of a wider investigation into suspected corruption connected to public transport contracts.

Investigation continues despite changes to detention

While Jellinek’s cooperation was considered sufficient to justify replacing detention with a less restrictive measure, judges did not conclude that the risks associated with his release had disappeared entirely.

In particular, the court considered his extensive business connections and financial resources when assessing the possibility of avoiding prosecution. In Szivek’s case, judges concluded that continued detention was necessary because of the possibility that he could influence other individuals involved in the proceedings.

The latest ruling therefore changes the conditions under which Jellinek is held while the investigation continues, but does not represent a dismissal of the allegations. Neither businessman has been convicted in connection with the case.

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