BUDAPEST, Hungary - Hungarian authorities announced on Nov. 13 that they recovered approximately €17.69 million in hidden cash during a corruption investigation into a former minister under Viktor Orbán. The National Asset Recovery and Protection Office conducted a two-day search across Budapest and three additional counties, unearthing bundles buried in forests and hidden inside agricultural buildings.
What happened?
Authorities recovered over 5 billion forints, approximately €2.6 million, and $1.2 million, totalling around €17.69 million from forests, warehouses, and safes. Investigators linked the cash seizure to ongoing criminal proceedings against former National Development Minister Miklós Seszták, who was taken into police custody in late September. Prosecutors suspect Seszták of accepting bribes and kickbacks tied to state bus procurements and public construction projects.
Why does it matter?
Prime Minister Péter Magyar emphasized the scale of the operation as evidence of entrenched corruption under the prior administration. "On Friday evening, Prime Minister Péter Magyar said 12 employees from the Hungarian State Treasury spent eight hours counting the recovered cash, using five money-counting machines," European Interest reported. Last month, prosecutors also detained former central bank governor György Matolcsy over alleged misuse of a foundation endowed with 288 billion forints (approximately €787 million) in public assets.
What comes next?
Orbán has characterized the detentions and asset seizures as politically motivated actions against his defeated Fidesz party following April's election loss to Magyar's Tisza party. Prosecutors and the newly created asset recovery agency will submit the excavated cash and financial records as evidence in upcoming court hearings against Seszták and other detained former officials.
