After gaining access to BAC’s corporate documents, News Verify discovered that the firm was founded in 2022 and has just one stakeholder. It is linked to a structure in the 14th district of Budapest.
At the same building as BAC are 13 other companies and one individual registered.
But our investigation into a financial data source reveals no relationships between BAC and other businesses or individuals.
There is no trade information regarding BAC in the same database. For instance, no shipments between it and any other companies are documented.
But according to its now-downloaded website, BAC was planning to “develop international technology co-operation among countries for the sale of telecommunication products” in addition to expanding its operations in Asia.
Records show that in 2022 and 2023, respectively, BAC’s net turnover was 256,996,000 Hungarian Forint ($725,000; £549,000) and 210,307,000 Hungarian Forint ($593,000; £449,000).
The European Commission and the UK Department for International Development (DfID) are among the eight organizations that BAC claims to have collaborated with, according to a corporate brochure that was posted on LinkedIn.
All of the mentioned organizations have been contacted by news Verify for comments. The UK Foreign Office, which assumed DfID’s duties, informed us that it was conducting an investigation. However, based on preliminary discussions, it claimed not to have it.
