Brokerage scandal – Authorities seize assets of 160 bn forints in Quaestor affair

Budapest (MTI) – So far, a total 160 billion forints worth of assets have been seized in connection with the bankruptcy of the Quaestor brokerage firm, Tibor Ibolya, Budapest’s chief prosecutor, said on commercial Klubradio on Wednesday.

Ibolya added that the assets were in the form of deposits, bonds, shares, real properties and movables. He also noted that despite the achievements “this could be a long process”, adding that “the suspicion must be supported with evidence”. Concerning the procedure, he said that it was “legitimate, well-established, timely and […] successful”.

Meanwhile, company data provider Opten told MTI that a total 3,700 jobs could be jeopardised in connection with the recent broker scandals. They added that those positions were with 229 ventures associated with the three bankrupt companies, including Quaestor, in the centre of the scandals. Opten also said that those companies were mostly active in financial and real estate services as well as in consultancy.

Photo: superiorhirek.hu

Source: http://mtva.hu/hu/hungary-matters