MNB fines FUSO for violation of market influence rules

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The Hungarian central bank fined FUSO Ecosystem for HUF 10 mln due to breaking rules on market influence, as its valuation of TEVE, which the company acquired in an equity swap, was fraudulent, National Bank of Hungary (MNB) reported today. An "expert opinion" evaluated the company at HUF 183 mln, MNB added

The MNB said evidence acquired in the course of its investigation of the matter raised suspicion of other offences, thus the central bank and market regulator launched a criminal procedure with the police.

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