All private property immediately to book, to seal, then from that to compensate the investors – this is the great idea of Viktor Orban and the Fidesz in connection with the biggest broker scandal ever. This is even not the biggest oddity related to the case, stop.hu said.
The government’s narrative does not complicate the broker scandals: the hard-working people versus cheating brokers. In such a line-up, the cabinet of Viktor Orban, of course, is standing for the ordinary people and their money. As usual, new draft legislation was created a few days, which can be adopted by the Parliament as early as next week. The reason of the rush is: In this case, it usually happens (…), that those who squeeze out people’s money, somehow getting away. They can do it because the property which could compensate people usually disappears: there is a room for lawyers, and by the time the Government or the supervisors would take action, assets do not exist anymore” – the Prime Minister said.
The Government text is surprise only for those who do not know the attitude of Orban and the two-third towards rule of law. The early adoption of such legislation would seize properties and start to compensate the victims so that no court has said any guilt of the brokerage firm employees or owners. This is so great prejudice, namely raising it to the level of law, which a constitutional state could not allow itself, stop.hu says.
In addition, populism is also on the top in the Orban text. There is every indication that in the Questor case – the HUF 150 billion did not appear – so not the company’s employees and owners stole the money of the hard-working people. Questor, which was operating as pyramid schemes, continuously paid the investors, but was unable to produce the promised returns. Therefore, in order to cover losses, they get new customers and capital injections. In other words, the hard-working people’s money is at other hard-working people, while a series of irregularities – and perhaps malpractice – needed the company to be able to roll ahead the accumulating losses.
And what Orban and his member of faction who submitted the bill forget that how much responsibility the financial supervision has, which was not able to filter this process for one and a half decades. (The icing on the cake that at least seven years of those 15 was governed by Orban and his men at the financial institutions. Of this, the official communication is silent).
The specific relationship of the government with Questor and its head, Csaba Tarsoly is a more serious mystery. To be sure, Tarsoly operated Hungarian visa center in Moscow jointly with Szilard Kiss, who has been in custody, commissioned by Peter Szijjarto. It is known that nearly a quarter, 400 thousand of the 2 million entry permits issued since Hungary joined the European Union was issued by this center. The suspicion has already incurred several times that organized crime, which has close relationship with Kiss, used this center to get access for his member to the EU.
In addition to that, Moscow and Istanbul trading houses – also approved by Peter Szijjártó – were operated by Questor.
The Ministry of Foreign Affairs also acknowledged that its background institutions have a serious amount of public money at Questor. According to 444.hu, the company bringing together the system of trading houses had HUF 8.7 billion, but Eximbank also had significant inserts at Questor.
Accroding to stop.hu, the foreign affairs companies – and a number of local governments – did not get damaged – according to the official communication of the ministry. Because the team of Szijjarto acted in time, the leaders of the trading houses “observed the financial market developments, they saw the defaulting of Buda-Cash and Hungaria Securities, so they decided to no longer keep their money at the brokerage firm and they took out the capital from Questor”. Its exact time is not known, but they did not have too much time, since there was only less than one and a half week between the defaulting of Buda-Cash and Questor bankruptcy.
There is no need for a vivid imagination to see: insider information went to the the Foreign Ministry from Csaba Tarsoly, who has very close business relationship with Peter Szijjarto, so they could act in time. Howeve, they forgot to inform the general public, the hard-working people.
Another thing also raises the suspicion of insider information abuse: stop.hu says police investigated intensively at Buda-Cash, much earlier than the National Bank or other supervisory body would have anything done for the protection of the depositors’ interests.
based on the article of stop.hu
translated by BA
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