Eximbank investigation: Minister files complaints over 166 billion forints

Hungary’s Minister of Economy and Energy, István Kapitány, has filed two new criminal complaints regarding 166 billion forints in questionable Eximbank investments. These new filings bring the total value of reported misconduct uncovered during the bank’s audit to nearly 1,300 billion forints.

The first case involves an export-promoting private equity fund where former Eximbank management invested 56 billion forints of public money. According to Eximbank’s own valuation, the fund is now worth only 22.5 billion forints, representing a loss of 33 billion forints—nearly 60 percent of the original investment. Despite these losses, the fund manager, Ágoston Gubicza’s company, reportedly received increased payments, including approximately 1.4 billion forints in 2025.

The second case concerns the purchase of over 110 billion forints in bonds from a company within the Indotek Group, linked to Dániel Jellinek. The transaction was flagged as risky because the company provided insufficient collateral for repayment. Furthermore, the Hungarian state guaranteed 80 percent of the capital, meaning taxpayers would have been liable if the debt was not repaid. Kapitány cited suspicions of breach of trust, negligence, and abuse of office as the basis for the legal actions.