Thread by @alexandreafonso

In the political economy of the radical right series: a thread about what connects a far-right fake news website and swanky holiday resorts in Portugal.

It starts in Czechoslovakia in the early 1990s. A Dutch businessman buys an old metal factory, resells it to its US competitor for twice the price, then organises a hostile takeover of a larger sewing machines factory.

Privatisation in Czechia happened through vouchers. He obtained a list of the owners, hired people to buy the shares from them to gain a controlling majority, fired the management then later resold the company to a large German corporation with a large profit.

With the profits he then buys airlines, magazines, and real estate back in the Netherlands. His fortune in 2004 amounts to 130 mio EUR.
trouw.nl/nieuws/de-vlie…

His business career was clouded in controversy, however: accusations of extorsion against business partners, money laundering at his airline.
lemonde.fr/archives/artic…

The airline business goes down the drain. His right-hand man is arrested on charges of fraud, blackmail, and money laundering. He himself gets a suspended sentence in France for misappropriation of funds. Airline shuts down. Downfall.
lemonde.fr/archives/artic…

He rebounds as a columnist and talk show host, and becomes a media personality. On his radio show, he gets cozy with Eurosceptic firebrand Thierry Baudet (before he became an MP), props up a referendum against an EU association agreement with Ukraine.
volkskrant.nl/columns-opinie…

In 2015, according to an investigation in @DeGroene, he approaches a popular twitter account with a business proposal: make a website and hire writers to make it the European Breitbart: anti-EU, anti-immigration, pro-Putin groene.nl/artikel/hollan…

There are three investors in the project. While he gives a Glomar response about his involvement, the other investors confirm he is one of them. For them, it is a “business opportunity”; one of them owns a customs clearing company by Amsterdam airport
translate.google.com/translate?sl=n…

Voice of Europe gains a large followership. The recipe is to exaggerate news items with an anti-immigration, anti-EU and anti-Islam slant.e.g "Germany is brainwashing children to become Muslim"
snopes.com/fact-check/ger…

The same year, he moves to Portugal, where he invests in real estate, holiday villas and hotels. After the attacks at the Bataclan and Brussels, tourism in Portugal booms as it is perceived as safe: "here you cannot get a bomb on your head"
vastgoedjournaal.nl/news/28472/eri…

Countries like Egypt or Tunisia are less attractive after the Arab Spring. And even Greece and Italy: "as a tourist you don't want to see the misery of refugees", he says.

After the financial crisis, leading to foreclosures, Portuguese banks own many "distressed" real estate assets that they want to get rid of and can be bought for cheap 
portugalresident.com/distressed-pro…

One of the assets he acquires is the Mabor building in Portimão. Interestingly for someone who funds an anti-EU website, the renovation benefits from a subsidy by the Jessica program of the European Union
barlavento.pt/destaque/edifi…
imca-vastgoed.nl/projecten/mabo…

Earlier this year it was reported that Voice of Europe was stopping, after posting a statement accordingly. The website is still online, and its funding and revenue are unknown.
joop.bnnvara.nl/nieuws/extreem…

Epilogue: the right-hand man at the time of the airline bankruptcy was back in the news this week... selling face masks.
volkskrant.nl/nieuws-achterg…

...and Thierry Baudet makes free publicity for them on television.

So here's how you can create a reasonable revenue stream from your far right website with Google adsense. npr.org/sections/allte…

According to this traffic estimator, Voice of Europe got 660'000 visits in April.
similarweb.com/website/voiceo…

In the line of improbable connections, there is also this small town in Northern Macedonia who has developed an industry of fake news websites targeted at the US market.
bbc.com/future/article…

In the portfolio there is also a training centre in development for professional football teams vimeo.com/83669116

This story has so many interesting details. Here on the Czech connection, on the right-hand man who now sells face masks, and an airline kept afloat with drug money. nrc.nl/nieuws/2011/12…

If you're interested, there is currently a special offer at the holiday resort. Bonus: besides a golf course, "once or twice a week E. will personally invite you to give you his opinion on important world issues".