Polish authorities have placed Marcin Pióro, CEO of
currency exchange platform Cinkciarz.pl, on Interpol’s Red Notice. He faces
charges of fraud and money laundering linked to client losses exceeding 125
million złoty (about $30 million).
Accused of fraud and large-scale money laundering, the
executive is now among the world’s most wanted for allegedly causing investor losses.
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Charges and Investigation Timeline
The Poznań Regional Prosecutor’s Office initiated an
investigation into Cinkciarz in October 2024 after receiving thousands of
complaints from customers unable to access their funds. By March 2025, formal charges, including fraud, were filed against Pióro and several key company figures.
The allegations claim that Cinkciarz clients suffered
significant financial damage, as their deposits were apparently misused to fund
other business ventures. The investigation intensified after a police raid on
the company headquarters in Zielona Góra and the freezing of over 300 bank
accounts related to the platform.
Despite the gravity of the accusations, Marcin Pióro
denied all wrongdoing. Yet Polish courts have issued arrest warrants and
moved to detain him pending trial, noting that if convicted, the potential penalty could reach up to 25 years in prison.
Wider Impact on Polish Fintech Trust
Cinkciarz.pl, once a popular exchange founded in 2006
amid Poland’s foreign currency boom, grew to generate billions in annual
revenue. While the platform did not trade cryptocurrencies, financial observers
highlight the scandal as a stark reminder that trust in financial services can
be shattered rapidly.
Polish authorities have reportedly detained other
executives connected to Cinkciarz, including a board member and the company’s
chief accountant, both facing charges of complicity in fraud. Additionally, the Financial Supervision Authority
revoked licenses for related entities and blocked associated bank accounts.
Keep reading: Cinkciarz.pl CEO Fraud Charges Expand to 150 Million as Court Rejects Appeals, Upholds Account Freezes
The Poznań Regional Prosecutor’s Office recently announced that
it had revised its indictment to include additional victims and new evidence.
Authorities now estimate the financial damage to be more than 125 million zloty, or roughly $31 million, as more individuals step forward, claiming losses tied
to the collapsed foreign exchange platform.
Pióro, who reportedly fled Poland after the probe began last
October, has used social media to contest the allegations, accusing prosecutors
of misconduct and misrepresentation.
This article was written by Jared Kirui at www.financemagnates.com.
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