MNB fines unauthorized investor HUF 275 mln


Photo by Adriana Iacob/

The National Bank of Hungary (MNB) imposed a fine of HUF 275 million for the unauthorized collection of funds to be repaid by Attila U. and permanently prohibited its continuation, writes Világgazdaság.

Photo by Adriana Iacob/

The investigation confirmed the suspicion that Attila U. had received billions of funds from several Hungarian investors, referring to the resale of the products of Firefliesʼ international accommodation brokerage sales system to other persons.

He promised them a guaranteed return with an increased return of 18% in just 2-3 months.

In reality, however, Attila did not engage in any commercial activity with the sums transferred to him, but he temporarily effectively convinced investors that the promised transactions had indeed taken place.

The individual does not and did not have a central bank activity license to collect or accept deposits or other repayable funds, the economic daily adds.


Hungary Completes 2022 Census Figures

Hungary Completes 2022 Census

MPs Approve Tax Changes Parliament

MPs Approve Tax Changes

4iG Books Loss on Acquisition-related Costs Deals

4iG Books Loss on Acquisition-related Costs

Hard Rock Hotel Opens 'Star Chalet' for Winter Season Hotels

Hard Rock Hotel Opens 'Star Chalet' for Winter Season


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.