Hungarian police arrest Orbán-era central bank governor on suspicion of fraud and other crimes

Hungarian police arrested the country's former Central Bank governor on Wednesday, a significant escalation in the new government's pursuit of suspected financial abuses during the reign of former Prime Minister Viktor Orbán, whose government has been accused of widespread corruption.

Hungary's Central Investigative Prosecutor's Office issued a statement early Wednesday saying it was "carrying out coordinated investigative actions" in several locations in connection with a Central Bank-related investigation into criminal misappropriation of funds, but did not mention the former bank governor, György Matolcsy, by name.