Former head of the Hungarian central bank arrested

Former Hungarian National Bank president Gyorgy Matolcsy has been detained on suspicion of economic fraud and using false documents. His lawyer confirmed the arrest, stating that Matolcsy is implicated in significant financial losses. The Hungarian National Bank reported suspicions of mismanagement and fraud related to five bank-owned properties, leading to the investigation. Current bank president Mihaly Varga submitted 30,000 pages of documents to the investigative committee. Matolcsy, an economist and Fidesz politician, previously served as Minister of Economy under Viktor Orban.