Hungarian politician Péter Magyar has indicated that the upcoming days may see the detention of several oligarchs associated with the National Cooperation System (NER), amidst ongoing investigations into significant corruption allegations involving the Hungarian National Bank (MNB).

In a recent social media post, Magyar alleged that conversations regarding the misappropriation of tens of billions from the MNB have taken place behind closed doors, involving high-ranking officials and their associates, including Prime Minister Viktor Orbán and the Matolcsy family.

Magyar asserted that there is a deliberate effort to project the appearance of legal proceedings against corruption, despite what he termed as the largest corruption scandal involving companies from Poland and Switzerland.

He suggested that should substantial amounts be transferred to associates like Tiborcz, the investigation could be drawn out for years, deflecting attention from the core issues.

He also criticized the government’s inability to conceal what he described as a long-running 'free-for-all' at the National Bank, pointing out that numerous officials closely linked to the Prime Minister, including secretaries of state, representatives, and local mayors, were complicit in the alleged crimes.

In a related context, independent MP Ákos Hadházy echoed Magyar's concerns, providing information that suggests an agreement has been struck between Matolcsy and Orbán, where significant amounts would remain unaccounted for in exchange for the prolongation of investigations.

Hadházy characterized Matolcsy György, head of the MNB, as potentially facing repercussions for publicly criticizing the government's economic policies and seeking connections with opposition figures.

He likened the situation to that of corrupt leaders being dealt with under authoritarian regimes.

At the heart of this political turmoil lies an extensive financial scandal initiated by the Hungarian State Audit Office (ÁSZ), which filed a report following a review of several MNB-affiliated foundations, including one founded by Matolcsy.

The audit reportedly uncovered substantial mismanagement and suspicions of unlawful financial practices.

The ongoing investigation by the National Investigation Bureau is focused on alleged fraudulent mismanagement, with officials confirming that it remains in the preliminary stages of discovery.

Further complicating the political landscape, Minister János Lázár recently voiced his firm stance against individuals within the NER who have exploited their positions.

He used stark terminology to describe these individuals as 'ticks' draining resources from the state and emphasized the need for accountability within the system.

Lázár positioned himself as a proponent for reform, distancing himself from excesses associated with the oligarchs, having expressed a strong aversion to lavish lifestyles funded by corrupt practices.

He stated that the Fidesz party expects those who prosper through state opportunities to serve the public good.

Hadházy, in response to Lázár’s remarks, highlighted the irony in Lázár's denunciations, pointing to ongoing privileges enjoyed by close associates of the administration, while announcing plans for further public demonstrations against perceived governmental overreach in restricting civic liberties.

As these allegations unfold, the overarching narrative centers on a critical examination of state conduct, accountability of the ruling party, and the implications of these alleged transgressions on Hungary’s political integrity.