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Police raid Electro World headquarters

Detectives of the National Tax and Customs Office (NAV) have searched the headquarters of consumer electronics retailer Electro World, NAV spokesperson Alexandra Sárközi said on Monday, confirming a press report.

NAV would provide no further information at the time in the interest of the investigation. Online crime magazine said there was suspicion of tax fraud in the hundreds of millions of forints at the troubled company.

Last Wednesday, police searched the company's headquarters in Siófok, as well as the homes of its CEO and his predecessor, seizing computers, mobile phones and corporate documents.