Hungary’s Seventh Richest Man Taken in for Questioning in High-Profile Corruption Case
Investigators say more than 600 used buses were bought at inflated prices and that the case caused about HUF 10 billion in losses.
- On Tuesday morning, police questioned billionaire Daniel Jellinek, the seventh richest Hungarian with assets of about $988 million, and Norbert Szivek, former head of Hungary's National Asset Management Inc. , in connection with a corruption investigation into state-owned Volan bus companies.
- The National Investigation Bureau investigation concerns transactions between 2015 and 2018, when Szivek headed MNV and oversaw state-owned Volan companies, suspected of causing around EUR 27.4 million in financial damage after eight people were questioned last week.
- Investigators allege more than 600 buses were purchased at inflated prices, with illicit funds allegedly channelled through intermediary companies and invested in Budapest and Balatonvilágos property projects; Jellinek's deals include the Gellért Hotel, purchased in 2019 and sold to Istvan Tiborcz's BDPST Group in 2022.
- Prosecutors said they were questioning four suspects while three people had been detained, as Indotek Group stated Jellinek's "firm position is that Mr. Jellinek has not committed any offence" and proceedings will "soon be discontinued."
- Prime Minister Peter Magyar publicly linked Jellinek to Istvan Tiborcz on Facebook, while Jellinek's separate January 2025 budget fraud conviction adds context; the NNI signalled further suspects could be identified as the investigation expands.
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26 Articles
On Tuesday, Hungarian prosecutors summoned one of the richest Hungarians, Dániel Jellinek, and the former CEO of the Hungarian National Assets Trust, Norbert Szivek. Jellinek is a business partner of István Tiborcz, the son-in-law of former Hungarian Prime Minister Viktor Orbán (Fidesz).
Hungarian real estate mogul Jellinek questioned in corruption probe
Daniel Jellinek, one of Hungary's wealthiest businessmen, was questioned by police and prosecutors on Tuesday as part of an investigation into alleged bribery linked to a bus procurement deal, according to prosecutors and his company.
Hungary’s 7th-Richest Man, Linked to Orbán and PM Magyar, Detained
Prosecutors have detained Dániel Jellinek, one of Hungary’s wealthiest businessmen, in a major corruption probe involving alleged bribery and financial misconduct. The case is politically very sensitive: Jellinek previously did business with Viktor Orbán’s son in law István Tiborcz, while a company linked to his circles allegedly bought PM Magyar’s Budapest flat at an inflated price.
Hungarian police allegedly detained the 7th richest man of the country
Police have reportedly detained billionaire property businessman Dániel Jellinek, who is currently one of the wealthiest Hungarians, and former business partner of Viktor Orbán's son-in-law. Continue reading: https://dailynewshungary.com/hungarian-police-7th-richest-hungarian/
According to Péter Magyar's Facebook post, investigators have arrested Dániel Jellinek and Norbert Szivek.
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