DistantNews
Orbán's Associates Move Assets Abroad After Election Loss, Guardian Reports
🇬🇷 Greece /Elections & Politics

Orbán's Associates Move Assets Abroad After Election Loss, Guardian Reports

From Ta Nea · (12m ago) Greek Critical tone

Translated from Greek, summarized and contextualized by DistantNews.

TLDR

  • Associates of Hungarian Prime Minister Viktor Orbán are reportedly transferring assets abroad following his election loss.
  • Private jets allegedly loaded with wealth are departing from Vienna, while others are investing outside Hungary.
  • Orbán's allies, who gained wealth during his 16 years in power through economic control and public contracts, are seeking to protect their fortunes.

A report in the British newspaper The Guardian, as detailed by Ta Nea, reveals a significant post-election exodus of assets by associates of former Hungarian Prime Minister Viktor Orbán. As Orbán's Fidesz party faces a new political reality after losing the election to Péter Magyar, those who benefited immensely during his 16-year tenure appear to be scrambling to move their fortunes out of the country.

The imagery of private jets allegedly laden with wealth taking off from Vienna paints a stark picture of the situation. This isn't just about relocation; it's about safeguarding vast fortunes accumulated through alleged control over the economy and EU-funded public works contracts. Sources indicate that individuals close to Orbán are not only moving assets to countries like Saudi Arabia, Oman, the UAE, Australia, and Singapore but are also exploring visa options in the United States, potentially seeking connections with the MAGA movement.

Oligarchs connected to Orbán are transferring tens of billions of forints to the United Arab Emirates, the United States, Uruguay, and other distant countries.

— Péter MagyarPéter Magyar, who defeated Orbán, claims that oligarchs are moving vast sums of money abroad.

Péter Magyar himself has been vocal, accusing Orbán's oligarchs of attempting to spirit away billions of forints before the new government officially takes power. His calls for the arrest of these individuals highlight the deep-seated accusations of corruption and illicit enrichment that have plagued Orbán's government. The Guardian's reporting, corroborated by local outlets like Vsquare and 444.hu, suggests a coordinated effort to protect wealth, raising serious questions about the financial legacy of Orbán's rule and the challenges the incoming administration faces in addressing potential economic malfeasance.

I have also been informed that several oligarch families have already left the country.

— Péter MagyarPéter Magyar states that influential families connected to the former regime are fleeing Hungary.
DistantNews Editorial

Originally published by Ta Nea in Greek. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

More Stories

From Our Blog