Biznes Fakty
Charges and arrest for a member of the Cinkciarz.pl board
Cinkciarz.pl websiteCinkciarz.pl
The president and a board member of Cinkciarz.pl are potentially facing up to 25 years in prison for allegedly defrauding clients of the online currency exchange platform, resulting in losses exceeding PLN 49 million. One suspect has been temporarily apprehended, while the other remains abroad, according to the prosecutor’s office statement made on Thursday.
In early October, the Polish Financial Supervision Authority revealed it was taking action following customer complaints regarding the execution of currency exchange services by Cinkciarz.pl. The Office of Competition and Consumer Protection (UOKiK) stated that it had received 13 complaints concerning delays in currency exchanges and money transfers. Customers were informed of the issues, which are expected to be resolved by the end of October.
The following day, the KNF revoked the license for payment services for the firm Conotoxia, which operates through agents Cinkciarz.pl and Cinkciarz.pl Marketing. After the KNF’s notification in October, the Poznań regional prosecutor’s office commenced an investigation into the fraudulent activities affecting numerous users of the online currency exchange platform.
A member of the Cinkciarz.pl board has been apprehended
On Thursday, the spokesperson for the Poznań Regional Prosecutor’s Office, Prosecutor Anna Marszałek, confirmed that Robert G., a board member of Cinkciarz.pl, had been arrested in connection with this matter. He stands accused of collaborating in perpetrating fraud by leading several individuals to dispose of their assets disadvantageously. Investigators believe the total losses incurred exceeded PLN 49 million.
The prosecutor’s office stated that the suspect misled the victims regarding „circumstances significant to finalizing an agreement in the Cinkciarz.pl mobile application, including the actual intended use of the funds obtained from the victims as part of online currency exchanges and payment services, which financed among other things, the operational activities of companies within the Conotoxia Holding Capital Group.”
„Robert G., who was questioned as a suspect by the prosecutor, denied committing the alleged offense and provided explanations in which he outlined his defense,” prosecutor Marszałek noted.
Upon request from investigators, the Poznań District Court ruled to temporarily detain the suspect for a period of three months.
Charges, including fraud, have also been brought against Marcin P., the president of Cinkciarz.pl sp. z o. o. He has not yet been interrogated as he is currently outside the country.
Both suspects could face a maximum sentence of 25 years in prison.
Company accounts have been frozen
The prosecutor’s office emphasizes that this case is ongoing.
At the end of December, the Poznań prosecutor’s office decided to freeze a total of 328 bank accounts belonging to the company that offers online currency exchange services. At that time, it was reported that investigators had received over 800 complaints from victims who had deposited money into Cinkciarz.pl accounts but had not received the exchanged amounts.
Currently, the prosecutor’s office has not disclosed how many victims have come forward in this situation.
Cinkciarz.pl announced on Thursday that it would submit urgent appeals against what it deems unlawful court orders and bailiff-enforced account freezes. „The company claims that nearly all of the freezes were imposed in clear violation of the law, resulting in security measures that were many times greater than originally required. The company’s accounts were frozen en masse across various banks, exceeding the necessary security amounts by several times, and in some instances even a dozen times,” the statement indicates.
