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. Last Updated: 07/27/2016

Hungary Faces Scandal

BUDAPEST -- The government fired the 11-member board overseeing privatization of state property Friday in a scandal over a multimillion dollar fee paid to a consultant.

The firing followed revelations that consultant Marta Tocsik received more than 800 million forints ($5.3 million) for settling financial claims between the agency, the State Privatization and Holding Co. and municipal governments.

The holding company is responsible for selling off former communist Hungary's state-owned enterprises.