Former head of Hungarian central bank arrested in fraud investigation

The former head of Hungary's central bank, György Matolcsy, has been arrested on suspicion of financial fraud. He served as the bank's leader from 2013 to 2025 and was previously the Minister of Economic Affairs. Current Prime Minister Magyar announced the arrest, emphasizing his commitment to combating corruption following his election victory. The Hungarian Prosecutor's Office reported coordinated investigations into the embezzlement of central bank funds, with Matolcsy accused of economic fraud and using a forged private document. His tenure was marked by controversies over potential corruption, including the establishment of foundations that managed significant public funds, some of which were mismanaged. A parliamentary committee has been formed to investigate the central bank's irregularities.