in Warsaw District Prosecutor’s Office sent to the court indictment against Andrzej K. Male answer for conduct banking activities without authorization and fraud to the detriment of the company’s customers Finroyal. He faces up to 10 years in prison.
The investigation was conducted from August 2012. The prosecutor has accumulated more than 300 volumes of documents of evidence. They are more than 1,800 witness statements, expert opinions in the field of international financial law, accounting, finance, accounting and economics, as well as the company’s business records Finroyal.
Andrew K. Prosecution alleges that from November 2007 to 26 June 2012, serving as director of the company Finroyal – FRL Capital Limited, via “operational offices” in Warsaw, Krakow, Wroclaw and Poznan, “in 1716 led customers Finroyal unfavorable disposition of confiscated property of significant value. ” The indictment refers to the amount of more than 100 million.
“financial pyramid”
From the collected materials that representatives of the company Finroyal conclude contracts with customers called “to investment contracts”. Customers were to receive “high interest rates and stable profit while investment risk off”. In fact, the money paid in by customers are not invested. Be allocated to risky ventures in the currency market, investments in unprofitable companies cover the operating costs, advertising and salary needs Andrzej K. Some of the money was also spent on the payment of interest for previous customers, thus creating a “Ponzi scheme.”
According to Przemyslaw Nowak, press spokesman prosecutors misled customers were misled as to the intent and ability to fulfill the set “deposit contracts.” There were also false information about the company’s financial condition Finroyal. It was presented as an “international and reputable financial institution”, which is a high insurance losses, reaching “above-average rate of return on invest in units of participation of specialized investment funds.”
“The company was insolvent”
It was not true. Andrew K. created the illusion of professional conduct investment business. From the evidence shows that Finroyal acted only in Polish, conducted exclusively parabankową activity. The share capital of the company was never paid. Furthermore, the expert’s opinion that throughout the life of the company was insolvent and unprofitable activities were conducted.
Andrew K. pleaded not guilty to the charges. He denied that the error introduced clients.
The man faces up to 10 years in prison and a fine up to 5 million.
wp
No comments:
Post a Comment