MORE COMPENSATION NOTES IN STRAW MATRESS

It is assessed there are compensation notes of HUF 3 billion in circulation – con-men bid at land auctions.

The compensation notes given to victims of dicatorships in the last century are partly in a stock exchange circulation at a small price – they are partly bought up by con-men in the street. There are announcements on paper slips placarded nationwide with the offer and after a phone call and after producing the necessary documents the owners can sell their compensation notes for cash – these notes are used at land auctions and in privatization procedures. The nominal value of a note is HUF 1000 but it is at a price of HUF 860 in circulation. The problem is aggravated by the fact that there is no authentic list about the issued compensation notes and all the attempts have failed to withdraw these notes from circulation.

Translated by Péter Szentmihályi Szabó