Hungary creates superagency that will investigate 4iG, "One Albania" and other oligarchs

The Hungarian parliament has passed a law creating a super-agency to investigate the wealth of oligarchs. Called the National Asset Recovery Office, the agency will have unlimited powers to investigate companies that have benefited from lucrative state contracts, including those known as Hungary's oligarchs.

The main company that will pass through the NVVH's sieve is the owner of One Albania, the 4iG group directly accused by the Hungarian prime minister and ministers as the mother of the oligarchy.

Law on the Establishment of the Asset Recovery Office

Hungarian media write that the NVVH has indeed been given a great deal of power. Based on Act XXXIV of 2026, the office can also investigate public procurement, state subsidies, concessions, EU funds, contractual chains and beneficial ownership relationships.

It can place companies under public asset protection supervision, inspect their books, contracts and financial records. Under certain conditions, it has the right to countersign contracts of companies under investigation and can even intervene in certain corporate decisions.

However, unlawful decisions may be subject to judicial redress and the state may be liable for compensation for the damage caused.

The office can also investigate, direct the investigation, file charges, and represent the public prosecution. This effectively breaks the traditional monopoly of the prosecution in cases involving public property, as defined by law.

The Hungarian government has currently opened a competition to select the person who will lead the Asset Recovery Office. According to Hungarian media, 100 candidates have applied so far to take over the anti-oligarch institution in Hungary.

"The coming days, then, will not simply be about electing a new head of state. The process of selecting the person who will build one of the strongest oversight and law enforcement institutions in decades will begin. The credibility of the office will depend on whether it can simultaneously crack down on the misuse of public funds and resist the temptation of political vendettas," these media outlets write.

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