Masha Borak of Biometric Update is writing about FaceKom again.
I discussed Borak’s previous article on FaceKom, which noted the alleged ties between FaceKom and the Hungarian government. The whole thing is a classic example of BENEFICIAL ownership, in which someone who is not the legal owner of a company may still benefit from it.
Borak returned to the theme in the current post:
“FaceKom, the identity verification company used by the Hungarian national digital identity program, has been acquired by major local IT and telecom group, 4iG Informatikai (4iG IT). The deal is now attracting attention among media outlets and political watchers due to the companies’ relationship with Prime Minister Viktor Orbán….
“Recent 4iG’s purchases, however, have been raising questions over the company’s reported links to the Hungarian government, which has been accused by critics of enriching political allies, family, and loyalists through state resources and public contracts.”
The details are in Borak’s post, including:
“4iG chairman and majority investor Gellért Jászai is known for his ties to Orbán and was invited as part of his entourage to Donald Trump’s Mar-a-Lago resort after the 2024 U.S. presidential election.”
“[FaceKom’s] previous owner is Equilor Fund Management, owned by the Central European Opportunity Private Equity Fund (CEOM)….While CEOM has no direct links with Orbán, local media investigations have discovered links with companies owned by the Prime Minister’s son-in-law, István Tiborcz.”
Mere links do not necessarily indicate illegal activity, and Hungarian law may differ from laws in other countries, but FaceKom is being watched.
Bredemarket 