Hungary’s long-running Volánbusz investigation has taken a major new turn after authorities brought in billionaire businessman Dániel Jellinek and former state asset manager Norbert Szivek for questioning.
The Central Investigative Prosecutor’s Office (KNYF) said investigators carried out searches and seizures at several locations on Tuesday, 15 September, in connection with a suspected bribery case involving passenger transport services and bus procurement at Volánbusz, reaching HUF billions. Four people were questioned as suspects and three were detained. The case centres on transactions dating back to 2015–2018, when more than 600 used buses were allegedly purchased at inflated prices.
HUF 10 billion in suspected damage
According to the National Bureau of Investigation (NNI), the suspected transactions caused around HUF 10 billion (EUR 24.7 million) in financial damage to Volán companies. Investigators are also examining the purchase of a Volán company’s headquarters in Kecskemét, which they allege was overpriced and caused at least HUF 550 million (EUR 1.5 million) in financial damage.
Authorities suspect that money originating from the disputed transactions was subsequently moved through intermediary companies and purported loan agreements. The NNI has said the funds may have been used for property projects, cash withdrawals exceeding HUF 1 billion (EUR 2.74 million) and the purchase of a high-value car.
The investigation has therefore expanded beyond the original Volánbusz purchases. Investigators are attempting to reconstruct a chain of transactions and establish who arranged particular deals, who approved them and who ultimately benefited. Earlier proceedings reportedly examined three main strands: a leasing transaction involving 138 buses, a maintenance contract connected to 250 buses, and the Kecskemét property transaction.
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Who are Jellinek and Szivek?
Dániel Jellinek, the head of Indotek Group, is Hungary’s seventh wealthiest businessman, with major interests in property. He has also had business dealings with several prominent figures in Hungary’s business world. One company linked to Jellinek that has appeared in reporting about the case is Barwald Real Estate Ltd.
According to Telex, investigators suspect the company received a loan of around HUF 1.25 billion (EUR 3.4 million) from a person linked to the Volánbusz investigation. Telex reported that the money was subsequently placed in escrow with interest, although this happened after police searches and questioning had begun.
Norbert Szivek is also a significant figure in the Volánbusz case. He was the former chief executive of the Hungarian National Asset Management Company (MNV), which exercised ownership rights over the Volán companies during the period under investigation. His alleged role is therefore being examined in connection with decisions made within the state asset-management structure.
Could the investigation reach further?
The investigation of the Volánbusz scandal has also prompted reports about other prominent figures who have had business or institutional links to people already mentioned in the case. HVG.hu said the investigation could potentially reach figures including businessman István Tiborcz, son-in-law of former prime minister Viktor Orbán and former development minister Miklós Seszták.
Tiborcz has had business relationships with both Jellinek and Szivek, while Seszták was the minister responsible for the ministry overseeing the relevant state asset-management structure during part of the period under investigation.
These reports do not mean that either man has been charged with a crime in the Volánbusz case. Their names have emerged in reporting about the wider network surrounding the investigation. HVG has also reported that investigators are interested in whether those being questioned will provide information about other possible participants.
What can possibly come next?
The Volánbusz bribery case has been under investigation for years now, so this operation means a huge step. Jellinek’s Indotek Group has rejected the allegations against its chief executive, saying he has committed no crime and is co-operating fully with the authorities. The company said Jellinek had voluntarily complied with an NNI summons on 10 September and had remained available to investigators.
The authorities now face the task of determining whether the complex series of bus purchases, property transactions, loans and other financial movements amounts to criminal conduct and, if so, who can be held responsible.
It is important to note that being questioned as a suspect or detained does not mean that a person has been convicted or that the allegations have been proven. The investigation remains ongoing, and the precise roles of those involved — as well as whether further people will become suspects — remain to be established.
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