Some members of Hungary’s former economic elite are reportedly looking to make deals with the new Tisza government, with one wealthy oligarch allegedly offering to return assets and money in exchange for protection from prosecution.
Oligarch reportedly offers assets in exchange for immunity
Some members of the economic elite associated with the former Orbán era are already seeking ways to reach an agreement with Hungary’s new government as several prominent figures face criminal investigations and arrests, according to the latest edition of the VSquare newsletter Goulash.
A senior member of the Tisza government told VSquare that one unnamed, wealthy and influential oligarch has reportedly been sending messages to the government through intermediaries. According to the source, the businessman would be prepared to return assets and money in exchange for immunity from prosecution.
The source did not identify the oligarch or specify the amount of money or assets allegedly involved. It is also unclear whether the government led by Prime Minister Péter Magyar is willing to consider such an arrangement.
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Another oligarch reportedly chooses a different strategy
According to the same source, another member of the former economic elite has chosen a different approach. Rather than attempting to negotiate immunity, the oligarch is reportedly keeping a low profile, returning whatever the government demands and trying to remain in business through bids from foreign subcontractors.
The source compared this strategy to that previously used by Austrian construction company Strabag, which operated while being placed on a blacklist by the previous Orbán government. The reports come amid a series of high-profile arrests involving figures linked to Hungary’s former political and economic establishment.
High-profile arrests shake former elite
In September, Dániel Jellinek, Hungary’s seventh-richest person and CEO of property company Indotek, was detained together with former state asset manager chief Norbert Szivek over alleged bribery linked to public transport bus purchases.
A court ordered Jellinek to remain in pre-trial detention for a month. His company has denied wrongdoing on his behalf, and the detention order is under appeal.
Two weeks later, former ministers Balázs Hankó and Miklós Seszták were arrested within hours of Parliament lifting their immunity. Courts subsequently ordered 30 days of detention for both men in separate corruption-related cases.
The arrests have contributed to growing uncertainty among members of the economic elite who built their fortunes or political connections during the previous governing era.
Will the new government make deals?
The VSquare source said it remains unclear how willing Magyar’s government will be to negotiate with former oligarchs and potentially spare them from prosecution in exchange for the return of assets. Any such agreements would raise significant questions about accountability and the treatment of wealth accumulated during the previous political era.
Featured image: illustration, depositphotos.com
