Misused public funds

State Audit Office finds central bank foundations run by ex-governor Matolcsy lost roughly 266-270 billion forint of public money through an opaque corporate network; criminal complaint filed

Confidence: Corroborated · 5 sourcesHungary · Sep 22, 2026

Subject of this story

György Matolcsy, Former Governor of the Hungarian National Bank (Magyar Nemzeti Bank)

Optima Investment

Also named

Oversight

State Audit Office of Hungary (Állami Számvevőszék, ÁSZ)

What happened

Hungary's State Audit Office (Állami Számvevőszék, ÁSZ) found that foundations created and endowed by the Hungarian National Bank (MNB) under then-governor György Matolcsy, and their asset manager Optima Investment, lost nearly the entire 266 billion forint of founding capital (plus a further 127.5 billion forint given to a foundation maintaining Neumann University) through a deliberately opaque web of companies with no effective controls. The ÁSZ and the central bank's new leadership filed a criminal complaint alleging breach of fiduciary duty; as of the reporting, no suspects had been formally named and Matolcsy had not been questioned. Matolcsy disputes the loss figure, saying it reflects a nominal accounting method rather than real asset loss, and says the central bank had no legal authority over the foundations' operations. A parliamentary investigative committee began hearings in August 2026 and says it intends to eventually question Matolcsy directly.

By the numbers (1)

● confirmed by a primary document · ○ reported

Figures

○

Hungarian outlet Telex reports that the central bank (MNB) foundation lost its entire HUF 266 billion in founding assets under Matolcsy.266B HUF

György Matolcsyreview-facts-c: removed unverified "foundations" plural and "he disputes"; attributed to Telex

1 source

TelexA teljes, 266 milliárdos alapítói vagyonát elveszítette az MNB alapítványa Matolcsy alatt.

Sources (5)

Direkt36The State Audit Office found huge asset losses and other serious problems at the Hungarian National Bank's foundation, according to a leaked draft report.

TelexA teljes, 266 milliárdos alapítói vagyonát elveszítette az MNB alapítványa Matolcsy alatt.

IndexItt az újabb fordulat az MNB-botrányban: hűtlen kezelés miatt büntetőfeljelentést tesz az új vezetés.

HVGMatolcsy megszólalt az MNB-botrányról: mindenki rosszul számol, a vagyon megvan.

444Hatan Matolcsy százmilliárdjai nyomában – megkezdte munkáját az MNB-botrány vizsgálóbizottsága.

Response

György Matolcsy

Statement given

Contacted and responded — exact wording not on record.

Optima Investment

Not yet contacted

Not yet contacted for this story.

What happened next (0)

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