Hungary: Orbán’s government denies insider trading

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Hungary’s government denied insider trading after opposition members questioned a foreign ministry decision to withdraw state funds from a brokerage that filed for bankruptcy a few days later.

The National Bank of Hungary suspended the licence of brokerage Quaestor on March 10, saying it may have sold more bonds than permitted under its issuance programme.

The opposition Socialists have called on Prime Minister Viktor Orban to quit. Party leader Jozsef Tarsoly told euronews: “The government has withdrawn the money of its allies and ministries and let the people down […] Mr Orban has lost his entitlement to be the prime minister of Hungary, so he should resign.”

The Socalists urged the foreign ministry to clarify whether it had any insider information about Quaestor’s finances.

“The foreign ministry and its institutions had no unlawful information whatsoever,” it said on the government’s website.

Quaestor was the third Hungarian brokerage to run into financial trouble within wee

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