After his confession, Balásy faces further problems: closed accounts, arrests, and massive criticism

Hungarian entrepreneur Gyula Balásy, known for creating government-oriented marketing campaigns and promotional initiatives, faces massive consequences after his Monday interview given with teary eyes. Gránit Bank immediately and without notice period closed the accounts of his companies Lounge Design, New Land Media, and Lounge Event, even though on Monday Balásy had contacted his partners with a notice about changing bank details to accounts at this bank. The police are currently investigating his companies on suspicion of tax evasion and money laundering, having frozen his financial resources and seized cash from his assets. Index.hu ↗

Balásy attempted to open a new bank account at another bank, which, according to available information, was unsuccessful. At the same time, he announced that he is completely withdrawing from his three main companies — Lounge Design, Lounge Event, and New Land Media. His legal representative Papp Gábor claimed that no specific charge has been officially communicated to Balásy and that Balásy does not plan to leave the country. HVG ↗

The capital's authorities quickly abandoned their contracts with Balásy's companies. Budapest's municipal services company (FKF) terminated its contract with the firm Media Dynamics, announcing its decision on the very day of Balásy's interview. The e-commerce companies Kifli.hu and Használtautó.hu also ended cooperation with his communications agency. Index.hu ↗

Criticism from professional circles was sharp and widespread. The head of the state company Active Hungary Development Center (AMFK), Mirko Petényi, stated that Balásy's companies worked with prices six times higher than market standards. Advertising professionals Péter Szabad and Krisztián Szabados described Balásy as a person with no understanding of the real advertising industry. The Hungarian Advertising Association and the Association of Communication Agencies issued a joint statement stating that "distortion of competition and excessive pricing" had been taking place on the market. Telex ↗

Even Balásy's predecessor in the position of "poster prophet," Tibor Kuna, noted that Balásy's decision could have been "his first truly independent choice" — however, it ended in failure. HVG ↗

The Anti-Corruption Center pointed out that the amount Balásy's companies obtained from public procurement was so high that it could have built 300 Felcsút football stadiums. The analysis also revealed that Balásy's companies were thirty times more successful than private companies in winning public contracts. Another investigative report proved that his companies handled the complete communication strategy and graphic design of the "blue posters," including content creation. Telex ↗