The key facts
- Gyorgy Matolcsy, who led Hungary's central bank for 12 years until 2025, has been detained in a case over the National Bank's funds
- Several people from his circle were also detained, including the lawyer of the companies of his son Adam Matolcsy
- The case has been investigated since February 2025 following audits by the State Audit Office
Detention of the Former Central Bank Chief
Former governor of the National Bank of Hungary Gyorgy Matolcsy has been detained in a case over the embezzlement of banking funds. This was reported by the outlet HVG, citing his lawyer Batky Pal and investigation data. The detention was first announced by Hungarian Prime Minister Peter Magyar, who published a post on social media; according to Economx, at the time of his publication there was still no official statement from the prosecutor's office.
The Charges
According to the lawyer, Matolcsy is suspected of economic fraud causing significant material damage and the use of a forged personal document. He was taken for questioning to the Central Investigative Prosecutor's Office.
Other Detainees
According to Telex, in addition to Matolcsy, several other people were detained: the lawyer of the companies of his son Adam Matolcsy and the director of a firm on which a villa on the Greek island of Mykonos, also linked to Matolcsy Jr., is registered.
Background of the Case
Bloomberg recalls that during Matolcsy's 12 years leading the central bank — until 2025 — the regulator became embroiled in scandals involving the theft of state funds and suspicions of personal enrichment of the central bank chief's family. The case over the National Bank's funds, which local media call the 'great robbery,' has been investigated since February 2025. It was opened after the State Audit Office identified violations in three reports on real estate transactions and loans. Searches in the circle of the former central bank chief took place as early as late September.
The Prosecutor's Actions and Matolcsy's Position
The prosecutor's office confirmed that procedural actions in the case over the National Bank's funds are being carried out at several locations involving the National Investigative Bureau, the Budapest police and the National Security Service; security is provided by the reserve police. Matolcsy himself previously called for an audit of not only the former but also the current leadership of the National Bank, assuring that he was ready for any such checks. It was also previously reported that computers with data were seized from Orban's party in Hungary.
