# Investigations into Philip Rákay and Rácalmás land deal > Developing situation record from CLSTR: https://clstr.news/situations/investigations-into-philip-rkay-and-rcalms-land-deal > Updated: 2026-10-30T05:00:00.000Z. Sources: 8. Developments: 2. 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. ## Timeline ### 2026-10-30: Hungarian media figure Philip Rákay denies corruption allegations Hungarian presenter Philip Rákay denies allegations of corruption involving film financing and a real estate deal linked to a South Korean tire manufacturer's expansion. 8 sources. https://clstr.news/cluster/hungarian-media-figure-philip-rkay-denies-corruption-allegations ### 2026-10-09: Philip Rákay's company under investigation for Rácalmás land deal Budapest police are investigating Philip Rákay's company for suspected abuse of office regarding a land deal in Rácalmás that yielded 1.4 billion HUF in profit following Hankook Tire's expansion plans. 12 sources. https://clstr.news/cluster/hungarian-bar-association-protests-new-tax-law-proposal --- Cite as: Investigations into Philip Rákay and Rácalmás land deal. CLSTR, https://clstr.news/situations/investigations-into-philip-rkay-and-rcalms-land-deal