Hungarian Billionaire Defends Himself in High-Profile Ministry Fraud Case
Nobilis Kristóf denies allegations of tax evasion and document falsification in a complex financial trial involving government funds.
On Thursday, a court case involving significant allegations of financial misconduct within Hungary's Ministry of Agriculture took a noteworthy turn at the Székesfehérvár Tribunal.
Kristóf Nobilis, a prominent figure in the Hungarian business landscape, testified as the tenth defendant in a sprawling case scrutinizing alleged ministerial financial malfeasance.
The allegations being explored by the court center around claims by prosecutors that a now-defunct subsidiary of the Ministry of Agriculture disbursed 2.2 billion forints to two law firms, KPZ Law Office and Őszy Law Office.
Prosecutors contend that these payments were made without the firms providing substantial work in return.
Investigative reports by Direkth36 in November 2023 uncovered the prosecutor's allegations further, stating that significant sums paid to the two law firms were channeled through a company called Astonish Zrt.
in Budapest to a Swiss bank account.
The court documents reveal that this account was owned by a Panamanian offshore company linked to Nobilis.
The prosecution argues Nobilis failed to pay taxes on these transferred amounts, prompting calls for his incarceration and monetary penalties.
In his court appearance, Nobilis began his defense unequivocally: "I don't even know how I ended up here," denying any criminal wrongdoing such as money laundering or budgetary fraud.
Previously, authorities had investigated the transactions under suspicion of money laundering, but this charge was omitted from the indictment, with Nobilis instead facing charges of fiscal fraud and falsifying private documents.
Nobilis described the financial transfers as repayments of a legitimate old loan, stating his Panamanian company lent 30 million euros to Astonish Zrt.
in the late 2000s.
According to him, the law firms that later acquired Astonish began reimbursing this loan, utilizing funds received from the Ministry's subsidiary.
Importantly, Nobilis maintains that such loan repayments are non-taxable, arguing against any tax liabilities regarding the transactions.
Questions were also raised about Nobilis's current financial standing, which he admitted fluctuates but insisted he has no financial hardships, estimating that he no longer ranks among the country's wealthiest but still possesses assets valued in billions of forints.
As a veteran player in Hungary's financial chessboard, Nobilis has operated across various sectors, including real estate and agriculture.
Known for avoiding the limelight, his business dealings have historically been pluralistic despite a noted right-wing orientation.
His network spans from influential banking figures such as Zoltán Spéder to historians with political connections like Mária Schmidt.
Further complicating the case is Nobilis Kristóf's familial connection, with his son, Nobilis Márton, having held positions within the Ministry of Agriculture, including as chief of staff to Minister István Nagy during the disputed financial transactions.
Although summoned by the court in December 2024, Nobilis Márton invoked his right to refuse testimony, citing his relationship with the defendant.
“I possess a legal education, and I am unaware of any crime committed, nor have I committed one,” the former state secretary declared.
“Yet I believe in my father’s innocence, and therefore I will not testify.”
For those interested in following the ongoing investigative work of Direkt36, updates on their inquiries are available through subscription notifications.
Kristóf Nobilis, a prominent figure in the Hungarian business landscape, testified as the tenth defendant in a sprawling case scrutinizing alleged ministerial financial malfeasance.
The allegations being explored by the court center around claims by prosecutors that a now-defunct subsidiary of the Ministry of Agriculture disbursed 2.2 billion forints to two law firms, KPZ Law Office and Őszy Law Office.
Prosecutors contend that these payments were made without the firms providing substantial work in return.
Investigative reports by Direkth36 in November 2023 uncovered the prosecutor's allegations further, stating that significant sums paid to the two law firms were channeled through a company called Astonish Zrt.
in Budapest to a Swiss bank account.
The court documents reveal that this account was owned by a Panamanian offshore company linked to Nobilis.
The prosecution argues Nobilis failed to pay taxes on these transferred amounts, prompting calls for his incarceration and monetary penalties.
In his court appearance, Nobilis began his defense unequivocally: "I don't even know how I ended up here," denying any criminal wrongdoing such as money laundering or budgetary fraud.
Previously, authorities had investigated the transactions under suspicion of money laundering, but this charge was omitted from the indictment, with Nobilis instead facing charges of fiscal fraud and falsifying private documents.
Nobilis described the financial transfers as repayments of a legitimate old loan, stating his Panamanian company lent 30 million euros to Astonish Zrt.
in the late 2000s.
According to him, the law firms that later acquired Astonish began reimbursing this loan, utilizing funds received from the Ministry's subsidiary.
Importantly, Nobilis maintains that such loan repayments are non-taxable, arguing against any tax liabilities regarding the transactions.
Questions were also raised about Nobilis's current financial standing, which he admitted fluctuates but insisted he has no financial hardships, estimating that he no longer ranks among the country's wealthiest but still possesses assets valued in billions of forints.
As a veteran player in Hungary's financial chessboard, Nobilis has operated across various sectors, including real estate and agriculture.
Known for avoiding the limelight, his business dealings have historically been pluralistic despite a noted right-wing orientation.
His network spans from influential banking figures such as Zoltán Spéder to historians with political connections like Mária Schmidt.
Further complicating the case is Nobilis Kristóf's familial connection, with his son, Nobilis Márton, having held positions within the Ministry of Agriculture, including as chief of staff to Minister István Nagy during the disputed financial transactions.
Although summoned by the court in December 2024, Nobilis Márton invoked his right to refuse testimony, citing his relationship with the defendant.
“I possess a legal education, and I am unaware of any crime committed, nor have I committed one,” the former state secretary declared.
“Yet I believe in my father’s innocence, and therefore I will not testify.”
For those interested in following the ongoing investigative work of Direkt36, updates on their inquiries are available through subscription notifications.
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