Quaestor owner says no assets stripped from group


Quaestor Group majority owner Csaba Tarsoly (pictured) told Hungarian news agency MTI yesterday that despite news reports, no assets had been stripped from any members of the group, and he said a plan was currently being designed in order to preserve the value of the group’s assets in the interest of the clients.

Quaestor Group came under scrutiny on suspicion of fraud after its clients panicked following the Buda-Cash brokerage’s scandal. Earlier in March, the National Bank of Hungary (MNB) appointed an oversight commissioner at Quaestor Securities Trading and Investment Company after an audit revealed a member of the group had issued HUF 150 bln of questionable securities, MTI noted.

Companies supervised by the Ministry of Foreign Affairs were Quaestor clients, and the ministry has not denied that Magyar Nemzeti Kerekedőház, Magyar Export-Import Bank and Magyar Exporthitel Biztosító, among others, could be effected by one of the largest brokerage scandals in the country, reported yesterday

Governing Fidesz MPs yesterday submitted a bill to the Hungarian Parliament on "securing assets for the compensation of victims of broker scandals", referring to fraud on an unprecedented scale recently uncovered at the Buda Cash and Quaestor brokerages.


Czech economic confidence improves in May Analysis

Czech economic confidence improves in May

Ministers in new Orbán gov't sworn in Parliament

Ministers in new Orbán gov't sworn in

Spring’s allergy season - the heat is on Interview

Spring’s allergy season - the heat is on

Airport bus fare could rise to HUF 1,500 City

Airport bus fare could rise to HUF 1,500


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.