Thousands caught in Polish scam

Amber Gold branch
Amber Gold branch

Thousands of Poles, many of them elderly, have fallen victim to a huge fraud which has left them facing financial ruin.

The affair is one of the biggest financial scandals to hit Poland since the fall of communism in 1989. The extent of wrongdoing is still unclear, but it seems to have some elements of a pyramid scheme, meaning the financial institution used funds from new clients to pay off older clients rather than investing them.

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