Hungarian Police Arrest Former Central Bank Governor on Fraud Suspicion

Hungarian police arrested former central bank governor György Matolcsy on Wednesday, Oct. 21, as the new government pursues investigations into suspected financial abuses from Viktor Orbán’s years in power.

His lawyer, Pál Bátki, said authorities suspect Matolcsy of economic fraud involving significant financial damage and use of a forged private document. Matolcsy has denied wrongdoing.

Earlier Wednesday, Hungary’s Central Prosecutor’s Office announced coordinated investigative actions at several locations in a central bank-related inquiry into suspected criminal misappropriation. The announcement did not name Matolcsy.

Matolcsy led Hungary’s central bank from 2013 to 2025, after serving as economy minister from 2010 to 2013. He was a longtime economic ally of Orbán.

Prime Minister Péter Magyar’s government has made investigations into suspected financial abuses under Orbán a priority. In July 2026, the administration launched the National Asset Recovery and Protection Office, which has investigative and prosecutorial powers to pursue cases involving misused public funds.