Shabtai Michaeli

Georgian-Israeli businessman Shabtai Michaeli, who described himself in a 2021 interview as Antal Rogán's friend of "more than ten years," held a management position at VolDan Hungary Kft., the Hungarian subsidiary of Liechtenstein-based VolDan Investments Limited — one of the intermediary firms in Hungary's 2013–2017 residency-bond (letelepedési kötvény) scheme. According to 2023 Direkt36 reporting, some Russian citizens who purchased residency bonds through VolDan were not repaid after the bonds matured; the parent company cut off communication with clients in autumn 2022, and forced-dissolution proceedings against the Hungarian subsidiary began in November 2022. A lawyer representing the clients said at least four of nine represented clients reported combined losses of roughly €1.2 million, and that a criminal complaint against the company was being prepared. VolDan collected more than HUF 7 billion in processing fees from bond buyers overall. The matter remains contested and unresolved — no investigation outcome or court ruling on this specific case is publicly known; the claims above stand at the level of client reports and a planned criminal complaint, not a judicial finding of guilt.