A Jewish mafia and Socialist ex-prime ministers vs. Hungary

The news is that, as of this Monday,   World Jewish Congress President Ronald Lauder and Israeli property investor Joav Blum are taking legal action against Hungary in Washington D.C., USA.  They  want  more than 100 billion forints (EUR 337m) in damages from the Hungarian taxpayers because of their failed casino investment. The Israeli investors will testify in person at the hearings. An earlier testimony by former Socialist prime minister Gordon Bajnai, as well as a written testimony by former Socialist prime minister Ferenc Gyurcsany will  be used as well to back up the case of the disappointed investors.

Gordon Bajnai, leader of the opposition E14-PM electoral alliance, told a Hungarian court last year that, as a prime minister, he had confronted the billion-dollar casino project planned in Sukoro in central Hungary not as a business issue but as a politically focused one.

Ex-Socialist prime minister Ferenc Gyurcsány,  leader of the opposition DK party, who is in fact infamous for his “Őszöd speech” which resulted in mass riots and in an unprecedented mass-scale abuse of human rights and police terror in  Hungary in the autumn of 2006,  granted Lauder’s and Blum’s plans a priority status.  Later the public prosecutors tried to make him accountable for this and the US embassy made it clear in uncertain terms that they were very worried about the witch-hunt Mr. Gyurcsány had to put up with in this case.

Former finance minister Peter Oszkó and former staff of Investment and Trade Development Hungary ITDH will give testimony in person on the side of the state of Hungary.

The plans of Blum and Lauder to build a casino and resort on Lake Velence in Western Hungary, allegedly for more than one billion Euro,  failed after a land swap involving the site was put under scrutiny. Opposition leader  András Schiffer filed a report to the police in the autumn of 2009 and this is when the scandal broke.

Unfortunately for the Israeli investors, Hungary’s supreme court (Kúria) declared the contract on the exchange of farm land for prime lakefront property null and void a year ago and they also established that the planned land swap would have resulted in a financial loss of 1.3 billion Forints for the Hungarian state.  This is why Lauder and Blum are seeking revenge… er, compensation in Washington.

So who are these respectable Israeli investors who want 100 billion HUF from the Hungarian taxpayer for shattering their grandiose casino dreams, a business which could have easily eclipsed Monte Carlo and Las Vegas?

Well, a certain Yoav Blum, an Israeli-Hungarian citizen, bought this fancy residency in Sukoró some time in 2007.  Lake Velence, where this impressive palace of a grand businessman  dealing with grandiose business projects is located, is a popular resort place west of Budapest.

The Sukoró residency of Joav Blum where he allegedly lived “permanently” while he was planning his multi-billion casino business.


Then he bought some apple tree plantation in Albertirsa which is really a small, dull town in the Great Plains.  But then he didn’t seem to be interested in apples so much because he soon offered his  apple trees in the Albertirsa sand  (valued at 300 millions at the time) in exchange for the  lake-side land in Sukoró (valued at 1.1 billion HUF).

Oh,well, a few hundreds of millions were still missing… No problem.  Mr. Blum bought some more fruit trees in the village of Pilis which, due to some strange coincidence, happened to be located exactly where motorway M4 would run in a few years.  Now  Mr. Blum’s fruit trees were worth 800 millions. The Hungarian Asset Management Holding discussed the land swaps first on the 18th of June, 2008 and the procedure went through in a record short time: the evaluation of the business proposal was held on the 28th of July and they approved it on the 30th.  Mr. Yoah Blum because an owner of the Sukoró land on the very next day.

This was when the whole Jewish mafia, that is Ronald Lauder,  Ronald Lauder, Fred Langhammer and Itzhak Fisher appeared on stage. The rest is history, see above.

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  1. Southerner

     /  15/11/2013

    Leto, Max Keiser reminds me a lot of your way of thinking as it relates to wrangling the facts out of fools and flogging them with their own words. When I watched this edition of his broadcast, it discusses the bilateral trade negotiations going on in Europe with the US, which will give financial institutions and corporations power to bring sovereign states (like Hungary) to a binding arbitration in a tribunal of appointed members which make decisions which are not able to be appealed.and are enforceable against that state. Made me think of your Casino hucksters story.
    Max place to work:
    Timothy Maxwell “Max” Keiser is an American broadcaster and film-maker. He hosts Keiser Report, a financial program broadcast on Russian state media channel RT.


    • Angela Bogaczy

       /  15/11/2013

      Southerner, this is marrow-chilling stuff. Surely the European side will not come at it. Remember that the EU has in place a specific directive about what may be concluded in BITs. But then, I suppose a new directive can always oust the existing one. Scary. (Thanks for the link. I have not come upon Keiser before.)


  2. And some wonder why Hungarians want to know who is Jewish in their government….


    • Angela Bogaczy

       /  14/11/2013

      Hungarian, in case you are referring to the much-misrepresented (by the foreign media) call from Jobbik: They called for an enquiry into how many parliamentarians hold dual nationality. There was not a hint of ‘who is Jewish?’ in that.


  3. Angela Bogaczy

     /  13/11/2013

    This situation is more than a little worrying. The Blum-Lauder action is not before a US court. It is before ICSID. Obviously, there was a contract between the previous government and a Blum-Lauder company for the building of the thing called King’s Casino. That contract must have named ICSID as the dispute-resolution forum that would arbitrate in the event of a breach of contract by either party. (ICSID would not be hearing this dispute if it were not the arbitration forum agreed upon by contract.)

    Notoriously, ICSID sides with the investor. It has slapped even very poor Pakistan with massive fines for breach of contract, as it has done a number of countries (notably Argentina, on numerous occasions).
    If the Blum-Lauder complainants can prove that the government has obstructed their ability to deliver the King’s Casino as per contract, ICSID will deem the government in breach of contract, and determine the compensation due to the complainants.

    The only obvious thing in the government’s favour is that the ICSID Convention stipulates that investment must be made in the interest of the host country’s economic development, not simply in pursuit of the investor’s self-enrichment.

    The government’s position (as far as I can work out) is that Blum-Lauder failed to abide by the terms of the contract, so it voided the contract. This, unfortunately, is very weak, for the government should have referred this matter to ICSID. (ICSID does not recognise arbitration by national courts of any aspect of a contract if ICSID is the arbitrator agreed upon by contract.)

    ICSID does not, however, have any means of enforcement. So it is open to the government to simply tell ICSID to get well and truly if it finds in favour of Blum-Lauder. We can only hope that Fidesz has the balls to do that.


    • “That contract must have named ICSID as the dispute-resolution forum that would arbitrate in the event of a breach of contract by either party”

      Yes, you probably hit the nail on the head. The Lauder-Blum-Gyurcsány gang must have paved their way to this court.



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