Ventilator business: the police issued an arrest warrant

The Hungarian tax authority has issued an arrest warrant for Bálint Májer, former CEO of OTT-ONE Nyrt., related to COVID-19 ventilator procurements. Investigations reveal significant budget fraud and money laundering linked to the Ministry of Foreign Affairs' 2020 purchases. Over 660 million HUF in damages are being examined, with 1.5 billion HUF in assets seized. Májer's involvement suggests OTT-ONE is implicated in a larger criminal organization. The ministry reportedly overpaid for ventilators, leading to substantial profits for involved companies, including OTT-ONE, which transitioned from an IT firm to a healthcare supplier shortly before the contracts were signed.