Sources: Orbán's oligarchs fly out wealth in private jets

Following Viktor Orbán's election defeat, sources indicate that oligarchs within his inner circle are urgently attempting to transfer their wealth abroad using private jets, as reported by Dagens Nyheter, citing independent journalists and The Guardian.

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It will certainly lead to indictments against these people in the future, but right now Magyar has no formal power.

These individuals, whose fortunes have reportedly grown significantly through widespread corruption during Orbán's tenure, are now scrambling to salvage their assets. Election winner Péter Magyar has publicly called on Hungarian authorities to intervene and halt these departures, accusing them of attempting to evade future prosecution. Magyar claims assets are being moved to countries like the United Arab Emirates, the USA, and Uruguay, with which Hungary lacks extradition agreements.

Anders Blomqvist, a Hungary expert and university lecturer, finds these reports credible, stating that such transactions are expected. He notes that some individuals may have begun preparing to move assets even before the election, anticipating the risk of having to repay illicitly acquired funds. The urgency stems from the impending transfer of power in early May, after which Orbán's government will no longer be in control.

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I urge the authorities to arrest the criminals who have stolen trillions of forints from the Hungarian people.

The Guardian has corroborated reports, confirming that at least three individuals from Orbán's close circle have moved assets since the election, with destinations including Saudi Arabia, Oman, and Singapore. While Magyar has called for the arrest of those he deems "criminals who have stolen trillions of forints from the Hungarian people," Hungarian banks have reportedly flagged suspicious large money transfers. The Hungarian police have confirmed an investigation into "suspected concealment of illegally acquired funds or other assets," though no suspects have been named.

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I do so both from the aspect that such transactions are expected and that some began packing up even before the election. They see a risk that some of that must be repaid and are therefore trying to secure as much as possible.