Hungary’s Fidesz: Corruption on a grand scale

When I read about Canada’s corruption scandals of the day — such as Senator Mike Duffy’s trial, where the disgraced politician is accused of claiming just under $100,000 in bogus expenses — I can’t help but think how incredibly petty all of this is, in comparison to the systemic and absolutely brazen corruption surrounding Hungary’s ruling Fidesz party. Today’s news sheds some light on what in any other country would be a major scandal, but what in Hungary is everyday ho-hum politics and political favours.

György Matolcsy, the current governor of the Central Bank of Hungary and former Minister of National Economy, has a son called Ádám, whose company — Glamorous Kft.– purchased a furniture factory in the western Hungarian town of Győr, called the Balaton Bútorgyár. Ádám Matolcsy’s company is registered as having 16 million forints ($77,000) in cash assets and employs 10 people. The company distributes equipment for barbers and hairdressers. The Fidesz politician’s son has a second company, Magyar Stratégiai Zrt., which owns an 80% share in Glamorous Kft.

While Glamorous Kft is a small business, the Balaton Bútorgyár is actually a major firm, with cash assets amounting to 338 million forints ($1.6 million) and employs over a 100 people. Ádám Matolcsy’s small company managed to buy Balaton Bútorgyár, but did so through a loan provided by a financial institution called the Növekedési Hitelbank (NHB Bank). It so happens that this bank’s CEO is György Matolcsy’s cousin, Tamás Szemerey. This isn’t the only  time that a member of the Matolcsy family, which seemes to be remarkably well-placed at the head of Hungarian financial institutions and government agencies, received major loans from the NHB Bank. A company called New Wave Productions, owned by Matolcsy-relative István Száraz, also managed to obtain a loan from György Matolcsy’s cousin.

György Matolcsy. Photo: AFP.

György Matolcsy. Photo: AFP.

The liberal website broke the story today, but Ádám Matolcsy would not disclose the size or the terms of his loan. He just said that the reason his company needed to buy a factory is because there has been a massive increase in foreign orders for Hungarian-built furniture.

But this all-in-the-family story doesn’t stop there. György Matolcsy has another son – Máté Huba Matolcsy – who was given a high-level job at MKB Bank, the financial institution that was nationalized late last year and which is currently being supervised by Matolcsy senior’s Central Bank of Hungary. Furthermore, Mr. Matolcsy’s wife – Gyöngyi – is the mayor of the town of Balatonakarattya.

Welcome to Hungary at the dawn of 2016. To get ahead, you know what you have to do and who you have to be.


  1. Avatar András B. Göllner says:

    The entire corrupt network and modus operendi is clearly outlined in the three volume study edited by Bálint Magyar, and also by the books written by József Debreceni and Krisztína Ferenczy. The latest publications of Transparency International merely confirm the evidence.

    Hungary under Orbán is a corrupt, maffia state. It is aggressively represented abroad by Ambassadors like Bálint Ódor in Canada, who is a purported relative of Orbán, and by highly paid lobbyists like Connie Mack in the US. And then of course there are the so called “politically neutral” diaspora organizations financed lavishly by Hungarian taxpayers’ money, to sing the praises of Orbán (Hungarian Lobby, Hungarian Initiatives, KMOSZ, Diaszpora Tanács, etc, etc). Last but not least are the so called pawns, who we are told, should be excused, because they are afraid, or ignorant. These are the millions, who refuse to organize, to speak up, to do ANYTHING, for fear of losing their jobs, for fear of being audited by the tax office, for fear of being excommunicated by a local parish priest, for fear of losing their academic privileges, travel grants, subsidies from the state run civil fund, for fear of arousing the ire of the municipal authorities who may send out an investigation into the height of their fence or chimney, and invalidate their building permit. Hungarians are indebted to so many, they are in a state of paralysis.

    A small, messy and muddy puddle – that’s what Hungary has become under Viktor Orbán. How anyone can be proud of this government and the mess it made of this beautiful country, in order to enrich itself, escapes me. If Kádár’s gulyás communism morally bankrupted Hungarians, Orbán broke the nation’s backbone, integrity.

  2. If Hungarian voters had any self-worth they would throw the bums out. But no, this maffia will stay for a long time and Orban will continue to hypnotize the millions of idiots with his double talk.

  3. As Akos Kertesz wrote it “Hungarians are slaves to a diktator” and now thwy are stuck with the Mafia state for decades.

  4. Hungarians are the western world’s most politically primitive people. They are brainless yes-men (and yes-women), who need a strong, cult-like leader who they never question, but who tells them exactly what to do and pats their hollow little heads every few days.

  5. Ahhh, my dear pink-faced choir boys Adam Andris Aharon Karl Sean again up on your master’s elegant stage all singing the same evergreen soo beloved song again and again all in the same usual tessitura beautiful sharp high-pitched piercing voices on the dotted notes your voices never breaks you have strong penetrating voices fine voices good lungs the voice of conscience lining up with radiating teenager virgin faces at the strains of the International – how terrible and shameful that you are singing to an empty house……will you ever realize?

    • Avatar Christopher Adam says:


      Do you have something to say about corruption in Hungary, or do you condone it or perhaps just turn a blind eye to it?

    • Les,

      Did you post the same comment on 444 site and on many of the Hungarian sites that are publishing similar revealing pieces about the H government both in English and Hungarian language? HFP is not the only one criticizing the H government and not even the most critical toward them. Or only HFP irritates you so much for some specific reason? What is that?

  6. I rather live under a nationalistic mafia then the treasonous globalist libtard socialist “alternative”.

  7. Orban is protecting Hungary with a heroic action against the “colonizing” EU, the migrants (the only thing I approve), meanwhile killing her from inside by sucking it dry with corruption, free looting, until there is nothing left. Then who’s gonna be the winner? Where’s the loot? It was a lost game when he started. This nation is so exhausted and corrupted I can’t imagine they will get back their feet without help from outside. I have never seen people or a nation being so badly robbed morally, physically and emotionally. That’s the way to make a country a real prey. Defenseless. Lost all her reserves.

    I’ve been criticizing Orban and his government in hope that pointing out their wrongdoings and crimes they committed can help building a better future, but now I don’t think so any more. I have no idea what could save this nation. He went to far beyond the point of no return. All their crimes published and coming to light either in the mess media or anywhere else only give a weapon in the hands of his and Hungary’s manipulative profiteering enemies making Hungary even more vulnerable.

  8. Avatar Attila Neumerker says:


    I can but agree with you. But I wonder if you know from where this mentality of orban comes from?

    Greetings from Sweden

    • Hi Attila,

      thanks for the greetings.
      Well, I don’t know the answer. Your comment suggests you might have it, though – and I’d be most happy if you could share it with me.

      I don’t know the answer because I haven’t even reached the point of asking it that way as I got stuck at my first question, whether it is a (his) mentality or a well laid plan, a project that he is simply carrying out. Whose the mind behind this madness?

      As of his mentality, all I know that he is possibly a trauma based mind controlled kid from a poor family who socialized on slaps in the face, but I always thought that mentality only carried him up to power, to chase power to get it …. and then….. just the scare remained. He is not even akin to what he used to be. He changed so suddenly and so much when he grabbed power in 2010, looks like a cheap synthetic products now.

      A haunting hunted kind.

      So, I don’t think I can give an answer to your question.

      Merry Christmas Attila

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