In another case, the London Economic published an article commending a new business in DR Congo, founded by Israeli mining billionaire Dan Gertler.
The piece praises Gertler for “leading by example” – saying his latest business was a “positive step” and suggests “a more sustainable blueprint for the future”.
But Gertler was placed under US sanctions in 2017 over allegations of huge-scale corruption in DR Congo. He denies the allegations and hired Donald Trump’s lawyer to successfully remove the sanctions – before they were re-imposed last year.
The Advertising Standards Agency (ASA) requires sponsored content to be clearly marked as “paid for”. When asked directly, the London Economic did not confirm or deny whether money had changed hands for any of the articles, but vowed the site would focus “with more intensity” on ensuring editors knew about ASA regulations.
Transparency International’s head of advocacy Rachel Davies told openDemocracy: “Whether it be buying favourable media coverage, rubbing shoulders with those in high office or silencing critics in the courts, for those with the means there are a multitude of ways to burnish reputations or hide a chequered past.
“The result is that even those who become wealthy through crime or corruption overseas can become fully embedded and influential members of British society.”
The London Economic website says it “prides itself on transparency, openness and accessibility” and claims it does its “utmost to ensure all information is accurate and verified”.
But a source said: “The London Economic publishes content which has come from PR firms trying to do reputation management and SEO [search engine optimisation] for their clients.”
In a statement, the London Economic said that paid-for content represents less than 0.1% of all articles it publishes, adding: “In all cases we apply the same editorial standards as we do to our internally generated content.”
Political connections
The London Economic is chaired by David Sefton, a former oil and gas exec who teamed up with the Conservative MP Damian Collins at the start of the pandemic to set up a COVID “fact-checking service”, Infotagion.
Sefton is also a director of Greencastle TLE Ltd., which has majority owned the London Economic since 2020.
Infotagion was also backed by Labour and Liberal Democrat MPs, but stopped publishing articles after just a few months. In that time, it claimed that face masks “will not prevent transmission” of COVID.
The London Economic covered Infotagion’s launch in 2020, saying it would help combat fake news. The article did not mention that Infotagion and the London Economic were linked through Sefton.
Collins and Sefton also appear to share another business interest: they are listed together in company documents for Game Plan Management LLP, which is not listed in the MP’s official register of interests.
Collins told openDemocracy he has never been involved with the London Economic – and that Infotagion’s posts were “based on accurate information at the time of posting”.
The MP added: “With regards to Game Plan, that is inactive, has never been an active business, has no value, and I have never derived any benefit from it, which is why I haven’t included it on the register of interests.”
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