Hungarian authorities have detained a former Ukrainian intelligence general and six other Ukrainians on suspicion of attempting to illegally transport large sums of cash and gold into Ukraine. According to Hungarian law enforcement, the haul included $40 million, €35 million and 9 kilograms of gold.
The Hungarian outlet Index, citing the National Tax and Customs Administration (NAV), reported the arrests took place on March 5. NAV has opened a money-laundering case. Investigators allege the operation was coordinated by the former general and say two armored cash-in-transit vehicles used to move the money and gold were also seized alongside the suspects.
Austrian journalist Richard Schmitt said the cash and gold were to be transported from Raiffeisen Bank in Vienna. He also suggested Prime Minister Viktor Orban halted the gold shipments after receiving “threats.”
Ukraine has not officially commented on the alleged involvement of the former intelligence general.
Separately, Ukraine’s Foreign Ministry posted a Facebook advisory urging citizens to refrain from traveling to Hungary. The ministry said the guidance was linked to the abduction of seven Ukrainian citizens and the seizure of property belonging to a state-owned bank in Budapest, adding that Kyiv cannot currently guarantee the safety of its citizens in Hungary amid what it called arbitrariness by Hungarian authorities.
“The Ukrainian and European business communities should also be aware of the risks of arbitrary property seizure in Hungary and factor these risks into any business activity in the country,” the statement said.
On March 5, Hungarian authorities detained two armored cash-in-transit vehicles belonging to Oschadbank that were accompanied by seven bank employees. The bank said the teams were conducting a scheduled transfer of foreign currency and precious metals between Raiffeisen Bank in Vienna and Oschadbank in Ukraine in line with international regulations and with properly documented paperwork. GPS data showed the vehicles were in central Budapest near a Hungarian security agency as of the morning, while the employees’ whereabouts remained unknown. The vehicles were carrying valuables totaling tens of millions — $40 million, €35 million and 9 kilograms of gold.
The Oschadbank armored vehicles are now on a restricted site of the Counter-Terrorism Center under Hungary’s Interior Ministry. The location of the seven accompanying bank employees remains unknown. Ukrainian Foreign Minister Andriy Sybiha called the incident “state terrorism and racketeering” and said Kyiv has sent Budapest a formal note demanding the immediate release of the Ukrainian citizens.
Earlier, Hungarian Prime Minister Viktor Orban said that during a March 5 briefing, Ukrainian President Volodymyr Zelensky allegedly addressed him with threats.
