Hungarian authorities have issued European and international arrest warrants for Ádám Matolcsy, the son of former National Bank of Hungary governor György Matolcsy, and businessman György Stofa in connection with an investigation into suspected economic fraud and other alleged offences.
Suspects believed to have left Hungary
The Budapest-Capital Regional Court confirmed on Tuesday that the warrants had been issued by the Buda Central District Court. The proceedings concern suspected fraud causing particularly substantial financial damage and the alleged use of forged private documents. According to the court, investigators considered it necessary to question both men as suspects.
However, authorities have been unable to establish their whereabouts or carry out the interviews, and measures to locate them have so far proved unsuccessful. Neither man is at his registered address in Hungary. Investigators have received information suggesting that both may have left the country and could be outside Europe. Nevertheless, the court considered it justified to seek them within the European Union as well as internationally.
The warrants will become visible in the relevant databases once the necessary administrative procedures have been completed. Hungarian authorities are seeking the men’s extradition or surrender so that criminal proceedings can be conducted. The court said it had considered whether issuing the warrants was proportionate, concluding that the nature of the alleged offences and the potential penalties justified the measure.
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Alleged roles in suspected financial fraud
Based on the evidence currently available, prosecutors believe that Ádám Matolcsy may have instigated alleged economic fraud causing particularly substantial financial damage, as well as the use of forged private documents. Stofa is suspected of having participated in the alleged fraud as a co-perpetrator and of directly committing the document-related offence.
These are allegations at the current stage of the investigation and have not been established by a court verdict. Stofa was previously associated with Optima Zrt., the company involved in managing funds linked to foundations established by the National Bank of Hungary, according to Hungarian watchdog K-Monitor.
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Wider investigation into central bank-linked funds
The warrants form part of a broader investigation into suspected financial misconduct connected with the central bank’s affairs. On 21 October, prosecutors detained former central bank governor György Matolcsy, who was questioned by the Central Investigative Prosecutor’s Office and named as a suspect in alleged economic fraud and the use of forged private documents.
Two other individuals were also detained: a representative involved in a loan agreement with the Central European III Private Equity Fund and a lawyer who participated in a securities transaction. Hungarian news outlet Válasz Online reported that those detained included Mihály Valkó, chief executive of Quartz Investment Fund Management, and Tamás Sándor, a lawyer who regularly represented the Matolcsy family.
The investigation continues, with the international warrants marking a further step in efforts to locate and question two people whom authorities say they have so far been unable to reach.
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