Investigations into Philip Rákay and Rácalmás land deal

The Budapest Police Headquarters has launched an investigation into Rácalmás Greendustry Projekt Zrt., a company controlled by producer Philip Rákay. Authorities are investigating suspicions of abuse of office and breach of official duties regarding a 2022 land transaction in Rácalmás. The investigation focuses on whether the company obtained non-public information concerning the expansion plans of the South Korean manufacturer Hankook Tire after the area was designated a special economic zone.

Philip Rákay has denied all allegations, stating that his business decisions were based on publicly available information. He has characterized the accusations as a “political smear campaign” and a “stomach-turning wave of slander.”

In addition to the real estate investigation, Rákay has addressed allegations regarding the financing of the Petőfi-funded film, “Most vagy soha!”. While the National Tax and Customs Administration is investigating the film for suspected budget fraud, Rákay stated he served only as a creative producer and was not involved in financial or production decisions.