Loading articles...

Polish court says founders of financial scam guilty of fraud

WARSAW, Poland — A Polish court says the two founders of a notorious pyramid scheme are guilty of fraud for cheating thousands of people out of their savings, worth $219 million, in one of the nation’s biggest financial scandals.

The Provincial Court in Gdansk on Monday also found the two individuals, identified only as Marcin P. and his former wife, Katarzyna P., guilty of misleading clients by advertising as a savings bank. It said they failed to obtain the required permits.

The scam, called Amber Gold, cheated some 19,000 investors out of over 850 million zlotys between 2009 until 2012, when it was revealed. Critics say Poland’s government at the time, led by Donald Tusk, failed to warn Poles against the scam.

The court is due to hand in its verdict later Monday.

The Associated Press

Latest Traffic & Weather
680 NEWS TRAFFIC @680NEWStraffic 680 News Traffic Twitter verified icon
Updated 10 minutes ago
CLEAR: WB 401 transfer app. the 400. #WB401
Latest Traffic
680 NEWS WEATHER @680NEWSweather 
Updated Today at 07:33 AM
A cooler start to the day but the winds shift and a sunny and seasonal day expected. The guaranteed high is 22 degrees. Welcome to June :)
Latest Weather