Lazar Names Govt Agencies Impacted By Brokerage Scandals
- 2 Apr 2015 5:00 AM
Cabinet chief János Lázár has mentioned the Prime Minister’s Office, the foreign ministry, the agricultural ministry, as well as a number of local governments as agencies that had financial dealings with brokerage companies. Lazar referred to a 17 billion forint (EUR 56m) loan granted by the Hungarian Development Bank under a previous, Socialist, government to now bankrupted Quaestor, as the greatest problem.
Lazar insisted that the loan, granted to finance construction of a sports complex in Gyor, western Hungary, was not used for that purpose. The foreign ministry invested 410 million forints (EUR 1.4m) in Hungaria Ertekpapir brokerage shares, and that amount “has been lost”, Lazar said.
The ministry had also deposited 3.8 billion forints (EUR 12.7m) with Quaestor, but that total has been “recovered”, he said.
Many local governments, operating under the interior ministry, have also been badly impacted by the recent brokerage scandals, Lazar added.
Source www.hungarymatters.hu
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