As Viktor Orbán’s era ends, reports indicate his associates are rapidly moving assets abroad and attempting to destroy evidence.
Capital Flight and US Visas
Allies of outgoing Hungarian Prime Minister Viktor Orbán have begun transferring their wealth out of the country. Incoming Prime Minister Péter Magyar has accused those connected to Orbán of attempting to protect assets and evade accountability, according to the Guardian.
Private jets, reportedly laden with the wealth accumulated during Orbán’s 16 years in power, are regularly departing from Vienna. Others are rushing to invest assets abroad.
Asset Transfers and NAV Blockades
Péter Magyar also accused “oligarchs connected to Orbán” of transferring assets to the UAE, USA, and Uruguay. He noted that the Hungarian tax authority, NAV, blocked several transfers belonging to Antal Rogán, a politician linked to Orbán who is on the US sanctions list due to corruption allegations.
Concerns Over Nationalization and Evidence Destruction
Independent Hungarian media outlets VSquare and 444 reported that individuals close to Orbán are moving assets fearing seizure, freezing, or nationalization by the new government. This process reportedly began in March, before the election.
Magyar also warned of widespread document destruction in ministries and institutions linked to Fidesz in recent weeks, potentially obstructing accountability for the outgoing team.
The United States as a ‘Plan B’
The Guardian reported that Viktor Orbán himself will travel to the US during the FIFA World Cup, starting June 11th. His daughter and son-in-law moved to New York last year.
Hungarian investigative journalist Szabolcs Panyi noted that the US is seen as a safe haven, stating, “As long as the Donald Trump administration is in power, the United States can become a safe haven for the upper echelons of the Orbán regime.”
Seeking US Employment
Other high-ranking individuals connected to Fidesz are applying for work visas, hoping for employment in think tanks associated with the Republican Party.
Magyar called on national institutions to detain those who have “caused damage to Hungary amounting to billions of forints” and urged investors to refrain from acquiring assets “linked to the mafia.” He added that several families have already left Hungary, withdrawing their children from schools, including relatives of Lőrinc Mészáros, one of Hungary’s wealthiest individuals.