Hungarian authorities say investigators found cash worth about $19.5 million during searches connected to criminal proceedings involving former National Development Minister Miklós Seszták, who served under former Prime Minister Viktor Orbán. The searches took place on Nov. 12 and 13 in Budapest and three counties, according to the National Asset Recovery and Protection Office.

What investigators say they found

The office’s announcement, carried by Hungary’s national news agency MTI, listed 5.07 billion forints, 2.66 million euros and about $1.26 million. The combined amount is roughly $19.5 million at the conversions reported by the Associated Press. Authorities said the money was found in several places, including forests, agricultural buildings, warehouses, a residence and a concealed safe.

The coordinated operation covered Budapest and Pest, Békés and Nógrád counties. The office said it was conducted as part of proceedings involving Seszták, who was national development minister from 2014 to 2018. The reported recovery is an investigative development, not a court finding of wrongdoing. Reuters reported that Seszták has denied wrongdoing.

What the announcement does—and does not—establish

Hungary’s new government created the National Asset Recovery and Protection Office to pursue cases involving suspected misuse of public funds. The office’s statement describes where investigators located the cash, but it does not itself establish how the money was obtained or whether any person is guilty of an offense. Those questions remain for the ongoing criminal process.

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Sources

Associated Press: cash recovery and investigation details (Nov. 13); Reuters, republished by Investing.com: amounts, case status and Seszták’s denial (Nov. 14); Hungarian News Agency MTI: National Asset Recovery and Protection Office statement (Nov. 13).