Hungarian investigators find millions in cash during investigation involving former minister

Hungary's National Office for Asset Recovery and Protection (NVVH) says investigators carried out coordinated searches on November 12 and 13 in Budapest and the counties of Pest, Békés and Nógrád, as part of criminal proceedings involving Dr. Miklós Seszták, a former minister of national development.

According to the NVVH statement, investigators found cash hidden in several locations, including buried in forests, in agricultural and storage facilities, at a residential property and in a safe at a concealed location. The total amounted to 5,071,632,000 Hungarian forints, 2,658,350 euros and 1,257,100 US dollars. The NVVH says the money was deposited into the Hungarian State Treasury on November 13.

Headlines reporting approximately 17.5 million euros refer to a conversion of the amounts found in three different currencies. The official statement lists the amounts separately and does not provide a combined euro equivalent.

There is also an important distinction regarding the investigation: the statement refers to criminal proceedings involving the former minister, but does not say that he was arrested or detained during these searches. Nor does it establish his guilt. The figures and account of the operation represent the NVVH's official statement; the document provides no independent verification of the origin of the money.

The statement was published on November 13 in Hungary's National Register of Press Releases, identifying the NVVH as its issuer.