Volánbusz Scandal: What We Know About Why One of Hungary's Wealthiest Was Detained
The detentions follow searches at multiple locations and questioning of eight former executives in a probe into alleged overpricing of more than 600 buses causing approximately HUF 10 billion in state losses.
- The Buda Central District Court ordered the arrest of billionaire Dániel Jellinek, CEO of Indotek Group, and former Hungarian National Asset Management Company CEO Norbert Szivek for one month on Thursday, amid a corruption investigation into Volánbusz.
- Investigators allege the state-owned firm suffered losses of around HUF 10 billion between 2015 and 2018, resulting from allegedly overpriced purchases of more than 600 used buses and other disputed financial transactions.
- Authorities are examining property deals, including an overpriced headquarters purchase in Kecskemét causing EUR 1.5 million in damage, alongside cash withdrawals exceeding HUF 1 billion that investigators suspect were moved through intermediary companies.
- Defense lawyers have appealed the detention order, while Indotek Group maintains that Jellinek committed no crime and remains fully cooperative with the Central Investigative Prosecutor's Office throughout the proceedings.
- Police escorted suspects to the Budapest Penitentiary on Thursday as authorities continue determining whether the complex series of financial movements constitutes criminal conduct and whether additional individuals will become suspects in the ongoing investigation.
32 Articles
32 Articles
A Hungarian court has ordered a month of pre-trial detention for wealthy Daniel Jellinek, founder and majority owner of Indotek Group, and Norbert Sivek, former director of the state asset management agency, as part of a major corruption investigation related to the state-owned bus company Volánbusz. The decision is not yet final, while the suspects' defense has filed appeals, media reports say. The investigation relates to the activities of sta…
Hungarian billionaire Dániel Jellinek, owner of a hotel and marina in Croatia, has been detained for a major corruption scandal weighing 27.6 million euros.
Anti-corruption authority reportedly preparing to reopen black van case
The anti-corruption authority is reportedly preparing to launch a renewed investigation into the black surveillance van case, examining aspects of the affair not covered by the original criminal inquiry. Approached by the Cyprus Mail on Thursday, the authority would neither “confirm nor deny” that it was proceeding the reopen the case. The authority did however […]
Prime Minister Péter Magyar announced on Thursday that investigations into the accumulation of wealth could be resumed, which would include not only the political elite but also several actors in the state administration. The prosecution has decided to arrest Norbert Szivek, the former president of the Hungarian National Wealth Management Association, and businessman Dániel Jellinek. Previously, five regional chamber presidents called on Elek Na…
Volánbusz case: five people have already been questioned as suspects
Three of the five suspects are in custody, and the court will decide on their arrest on Thursday.
Coverage Details
Bias Distribution
- 56% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
