Former head of Hungarian National Bank arrested in probe into loss of bank funds

György Matolcsy, former governor of the Hungarian National Bank, has been arrested amid an investigation into significant financial losses linked to alleged economic fraud. The court ordered his detention for one month, alongside others involved in the case. Prosecutors suspect that a controversial asset restructuring scheme was designed to maintain control over the PADME Foundation's assets, resulting in substantial financial losses. The investigation is ongoing, with potential for more suspects to emerge. International arrest warrants have been requested for individuals currently outside Hungary.