Hungarian Eximbank investment investigation

Hungarian Minister of Economy and Energy István Kapitány has filed criminal complaints regarding questionable Eximbank investments, bringing the total reported misconduct uncovered by audits to nearly 1,300 billion forints.

One investigation focuses on an export-promoting private equity fund that lost approximately 33 billion forints, representing nearly 60 percent of the original 56 billion forint investment. A second case involves the purchase of over 110 billion forints in bonds from a company within the Indotek Group. Minister Kapitány flagged this transaction as risky due to insufficient collateral and noted that the state guaranteed 80 percent of the capital, potentially leaving taxpayers liable. The Minister cited suspicions of negligence, breach of trust, and abuse of office.

In response, Indotek Group denied any wrongdoing, asserting that all funds were used for contractually agreed investments and business development, such as residential construction. The group maintained that “not a single forint has been lost” and stated they are ready to cooperate with authorities to prove the lawful use of resources.