Hungary launches investigation into seizure of Ukrainian bank cash convoy
Hungary's new prime minister has ordered a review of customs and counterterrorism agencies over the "gold convoy" case (photo: Getty Images)
Hungary has launched internal investigations across several law enforcement agencies over the detention of Oschadbank cash-in-transit personnel, Hungarian Prime Minister Peter Magyar said.
Who is being investigated
Magyar said he had ordered an immediate internal investigation within the National Tax and Customs Administration, the Counter Terrorism Centre, and other relevant agencies.
"We have ordered an immediate internal investigation at the National Tax and Customs Administration, the Counter Terrorism Centre, and the other relevant authorities in connection with the Ukrainian 'gold convoy' case. The Prosecutor General must address the matter without delay," he wrote.
What happened in March
On March 5, 2026, two armored Oschadbank vehicles were stopped near Budapest. The vehicles were carrying $40 million, €35 million, and 9 kilograms of gold as part of a routine transfer between Austria's Raiffeisen Bank and Oschadbank.
Seven cash-in-transit personnel accompanying the shipment were held in handcuffs for more than 28 hours. One of them was forcibly injected twice between interrogations, after which he fell ill and was taken to a hospital.
Who was behind the operation
According to the Hungarian outlet Telex, the raid was a pre-planned operation with no legal basis. The decision to carry it out was personally made by then-Hungarian Prime Minister Viktor Orbán.
Hungary's Constitution Protection Office confirmed that the order to conduct the raid on March 5 came from the State Secretariat attached to the Prime Minister's Office.
At the same time as the detentions, the media empire of the ruling Fidesz party circulated AI-generated images portraying the cash-in-transit personnel as criminals.
How it ended
In May 2026, Hungary returned all funds and valuables to Oschadbank in full after the government changed.
The three-year Schengen entry ban imposed on the seven cash-in-transit personnel was lifted, and all records related to them were removed from state databases.
