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Polish financial regulator's former head indicted over corruption charges

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Polish financial regulator's former head indicted over corruption charges

Poland's state prosecutor has indicted former Financial Supervision Authority head Marek Chrzanowski on corruption charges, Reuters reported Jan. 9.

An official investigation against Chrzanowski was launched in November 2018 after he was accused by Getin Noble Bank SA's main shareholder, Leszek Czarnecki, of soliciting a bribe in exchange for promising preferential treatment for Getin Noble. Chrzanowski resigned as the FSA head following the accusations, but denied any wrongdoing.

The 2018 bribery scandal contributed to the fall of share prices at Getin Noble and Idea Bank SA, also controlled by Czarnecki. Polish media outlets reported in July 2019 that Czarnecki wanted to file a €1 billion arbitration lawsuit against the Polish state institutions over an alleged attempt to take over the banks and actions taken against them.