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Polish Olympic chief charged in Zondacrypto probe

Prosecutors allege influence peddling and preferential treatment of creditors during Zondacrypto insolvency, and detained Radosław Piesiewicz.

Reported · Written up by our desk · Regulation

Polish prosecutors have charged Radosław Piesiewicz, president of the Polish Olympic Committee, as part of an investigation linked to the collapsed cryptocurrency exchange Zondacrypto, Poland’s Justice Minister and Prosecutor General Waldemar Żurek said in a public post on Thursday, according to Cointelegraph.

Żurek later said the charges are under two provisions of Poland’s Penal Code, involving allegations of influence peddling and favoring certain creditors over others while the exchange faced insolvency.

Cointelegraph also reports that local outlet TVP World described allegations that Piesiewicz was able to recover all money he invested via Zondacrypto, while thousands of customers could not withdraw funds.

The exchange stopped trading in April amid a liquidity crisis, around the same time former CEO Przemysław Kral said Zondacrypto could not access a wallet holding about 4,500 Bitcoin because it lacked the private keys. Cointelegraph adds that Kral has been reported charged with participating in large-scale fraud and is cooperating with investigators for a potential reduced sentence.

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