About 400 reports related to Kun-Mediator made to police

Analysis

Approximately 400 reports have been made to the police in connection with Kun-Mediator, a travel agency that also promised returns on its clientsʼ investments, Zoltán Szabó, the spokesman for the local police headquarters in Szolnok, central Hungary, told Hungarian news agency MTI yesterday.

Detectives still do not know the location of Kun-Mediatorʼs managing director, who is wanted in the case, the spokesperson said.

The police launched an investigation of Kun-Mediator on suspicion of embezzlement on April 14. Police raided the home of Kun-Mediator’s managing director in Karcag, eastern Hungary, on April 19 and seized 800 contracts, news portal Origo reported earlier.

The National Bank of Hungary (MNB) deputy governor for oversight László Windisch said a week later that some 700 investors were believed to have lost several billion forints placed with the company.

Kun-Mediator came under scrutiny by the police and the MNB in mid-April, after it was exposed that the travel agency was offering investment services and managing billions of forints of its clientsʼ funds.

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