A surprisingly bad run of luck in Hungary’s political elite

The speaker of the Hungarian Parliament, Laszlo Kover, recently advertised his own integrity by stating that he has no lucrative business interests which are the result of his high level political connections. From our investigations, we found this to be true. It is in fact his brother, Szilard, who has the stronger inclination to dabble in the private sector, even though he does not seem to have much talent for it. Despite several easy deals, the Kover family has not been able to make it big, though it has produced a series of failures.

Laszlo Kover is the Speaker of Parliament, an original member of the currently governing Fidesz party, and someone with a particular reputation for making outlandish and offensive remarks – such as saying that those on the opposite side of the political aisle should be hanged. More recently, at a public event, he commented that he has not made a fortune from his political career, and does not have interests in a range of businesses, unlike many others who are able to enjoy the additional boost they get from their friends in high places.

His family, on the other hand, hasn’t shied away from giving the business sector a try. Since 2004, Kover’s brother Szilard has shown up in a bunch of printing companies. It is difficult to track down all the records, but it is clear that one after another these firms have folded. This is the case, even though the Kover publishing businesses were operating during the first Fidesz government between 1998 and 2002.

In fact, all of Szilard’ Kover’s business ventures show a similar pattern: initially a strong revenue base, following by heavy losses, and ultimately liquidation within a few short years later. Looking back at his history, it is hardly surprising that his name pops up in relation to the Kaya Ibrahim scandal of 1998, named after a man legendary for being able to “bury” loss making companies and allow their founders to avoid the authorities.

Original article in Hungarian