Category Archives: Downtown billions

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.

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Police gave up hope of finding perpetrator in Budapest construction crime

The minister had done official business with them, now his wife rents an office from their partner

New trial ordered in Budapest downtown corruption case

Police Investigate Public Contract Won Through False Claims

Company Wins Major Public Contract Through False Claims

Former notary and entrepreneur acquitted in corruption case

Tapped phone calls reveal new details of the corruption case in Central Budapest

Notary 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.

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A 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.

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2014 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.

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Mystery 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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