June 25th, 2012
topics:

Former head of Hungarian public television charged with misappropriation over headquarters leaseback deal

Zoltán Rudi, former chairman of Hungary’s public television network MTV, is being charged with misappropriation involving a contract he signed when he was in office that saw the new headquarters of MTV sold to property developer Wallis as part of a leaseback agreement.

Milleniumi Média Kft, the company set up by MTV to build the television’s new headquarters in Buda’s District III., was sold to Wallis for HUF 7.4 billion during Rudi’s tenure, which lasted from 2004 to 2008, and MTV leased back the building for HUF 3 billion a year.

The lease contract was to run for 40 years, costing the state an estimated HUF 130 billion compared to the originally planned HUF 23 billion.

In April 2011 Milleniumi Média, which spent HUF 151 billion to develop the property, agreed to end the lease contract and sell the building to the state. [index.hu]

Topics
Share
  • Curious George

    Throw his arse in jail for 40 years.

More content from Hungary's leading foreign-language media network
About Realdeal.hu | Become an All Hungary Member | Newsletters | Contact Us | Advertise With Us
All content © 2004-2012 The All Hungary Media Group. Articles, comments and other information on the All Hungary Media Group's network of sites are provided "as is" without guarantees, warranties, or representations of any kind, and the opinions and views expressed in such articles and columns are not necessarily those of the All Hungary Media Group.