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OTP private banker misappropriates HUF 1 bln from his clients

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OTP’s private banker (referred to by online news portal index.hu as K. Zsolt) has misappropriated approximately HUF 1 bln from less than ten clients by falsifying their signatures and using their money for his own purposes, index.hu reported yesterday. 

The banker was arrested immediately when an internal investigation found evidence of the criminal act earlier this year, a practice the private banker had been engaged in for several years. OTP, which is by far the largest private banking practice in Hungary, has already indemnified the clients involved in the case, according to index.hu.

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