The bank headed by György Matolcsy has spent tens of billions of public money on the renovation of the Postal Palace without knowing much about the background of the project. According to an internal report, the work was beautiful, but “it did not meet the criteria of austerity”.
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The cost of the MNB’s new prestige investment, given to a friend of Matolcsy’s son, has been very high
An internal document reveals a problematic real estate transaction financed by Hungary’s state bank
According to an internal document obtained by Direkt36 the state-owned Eximbank identified several risks related to a Budapest real estate development project. Nevertheless, it decided to financially support it with a loan worth millions of euros.
Continue readingPolice gave up hope of finding perpetrator in Budapest construction crime
The police started its investigation after Direkt36 had exposed that the construction project was given to a company that provided false references in the bidding process.
Continue readingThe minister had done official business with them, now his wife rents an office from their partner
Cecília Rogán chose to rent an office for her company from a businessman close to two hotel investors. Her husband, the minister used to have good official connections to them.
Continue readingNew trial ordered in Budapest downtown corruption case
One of the defendants is the former notary of Budapest’s District 5.
Continue readingPolice Investigate Public Contract Won Through False Claims
The municipality hired again the company, which won a previous tender through false claims.
Continue readingCompany Wins Major Public Contract Through False Claims
The company needed to show that they had done similar construction in the past so they brought a reference from Uruguay. But it was a lie.
Continue readingFormer notary and entrepreneur acquitted in corruption case
The court cited the lack of evidence as the reason for its ruling.
Continue readingTapped phone calls reveal new details of the corruption case in Central Budapest
The phone calls played in court show the extraordinarily close relationship between two defendants of the corruption trial, a former notary and a businessman.
Continue readingNotary and businessman became extremely close, corruption trial reveals
The trial of the alleged District 5 corruption cases has started with the testimonies of the defendants. What emerged is a story of how a businessman with a wide network of contacts built an extremely close relationship with one of the most senior public officials of the district.
Continue readingA corruption investigation has been shrouded in secrecy. Now here is what happened
In district five of Budapest, arranging a restaurant licence cost 1.5 million forints in bribes, according to the prosecutors. One of the suspects is a businessman whose company had received lucrative contracts from the municipality.
Continue reading2014 was a prosperous year for 5th district’s mysterious entrepreneur
Profits nearly tripled for the construction company that has been awarded lucrative contracts by the 5th district while its owner keeps working in a hotel as an employee.
Continue readingMystery Entrepreneur: His Company Is Flush With State Money, Yet He Keeps Working as a Hotel Employee
The company received most of its contracts from Budapest 5th district, during the mayoral term of prominent government politician, Antal Rogán. Direkt36’s investigation also revealed that the firm has several links to a businessman who had close business relationship with the district in the past.
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