Another denunciation over CET

Sights

Porto Investment Hungary Kft, the developer of the CET cultural center, has denounced an unknown offender for misuse of office and fraud, online news portal Index.hu reported.

As it turns out from the company’s statement, the accusation is targeted on the Municipality of Budapest as Porto is eager to know how the Municipality could use up the HUF 1 billion bank guarantee for the investment without the authorization of the Budapest Assembly, Index added.

Previously, Hungary’s state audit office ÁSz also reported criminal activity concerning the CET investment.

The 27,000 sqm building should have been inaugurated in September 2010, according to the original schedule, but is still under construction, Index said adding that while the municipality blames the developer, Porto blames the Municipality for the delay.

ADVERTISEMENT

MNB Moves Forward With Phase-in of Capital Buffer Rates MNB

MNB Moves Forward With Phase-in of Capital Buffer Rates

Orbán Participates at Milei Inauguration in Buenos Aires Int’l Relations

Orbán Participates at Milei Inauguration in Buenos Aires

EV Demand Constantly Growing Automotive

EV Demand Constantly Growing

Number of Guest Nights up 5.1%  Tourism

Number of Guest Nights up 5.1% 

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.