Former MFB head misses testimony in connection with Panama Papers

History

Former head of state-owned Hungarian Development Bank (MFB) János Erős did not appear today at a meeting of Parliamentʼs economic committee to provide testimony that would clarify his involvement with offshore companies listed in the Panama Papers, Hungarian news agency MTI reported today.

Governing Fidesz MP Erik Bánki, who heads the committee, said another attempt to notify Erős, who lead MFB in the period of 2002-2010, would be made in the near future and his testimony rescheduled, MTI reported. 

The Parliamentʼs economic committee was reportedly investigating an issue earlier that was tied to Erős. Bánki said Erősʼs offshore companies did business with Austrian investment funds in 2007-2009, and the economic committee wanted to uncover what damage this may have caused the Hungarian economy, MTI reported.

When Bánki was asked why the committee was not scrutinizing such individuals as Fidesz MP János Kerényi, government commissioner Andy Vajna or central bank governor György Matolcsy, the Fidesz MP said the committee is scrutinizing Erős because he was the head of a big state-owned bank when he participated in the matter, MTI added.

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