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Public assets may have been lost in Quaestor scandal

Telco

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 of the country, index.hu reported yesterday. 

Magyar Nemzeti Kereskedőház, which has been a money losing operation since its foundation but had assets worth HUF 8.7 bln in securities, also had a joint venture with Quaestor’s Tarsoly in Istanbul. The Ministry did not comment on the public assets reportedly managed by the Quaestor group, which issued unapproved and unbacked corporate bonds totaling HUF 150 bln and is now bankrupt.

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