Brokerage scandal – Socialists ask Ader not to sign brokerage asset-seizure law

Budapest, April 1 (MTI) – The opposition Socialists asked President Janos Ader on Wednesday to withhold his signature from the law on seizing the assets of brokerages to compensate the victims of brokerage scandals because the law exempts Quaestor’s banking division.

Deputy chairman of parliament’s legislative committee, Gergely Barandy, told a joint press conference held with deputy Socialist group leader Bertalan Toth that under an amendment proposal submitted by the committee, banks will be exempt from the new law and this “saves” Quaestor’s bank from the seizure of its assets.

The amendment proposal was passed on ruling Fidesz’s recommendation, he said.

The police have frozen Quaestor bank’s operations pending a court order, but it is unlikely this can be sustained under the current law, Barandy said.

He accused Fidesz of having hoodwinked the legislative committee, insisting the ruling party’s “pals” must not be allowed “to siphon off” their monies via Quaestor’s bank by taking advantage of the banking exemption under the new law. He added that the Socialists would submit an amendment to scrap the law.