In an unprecedented act of abuse of power, the prosecutor's office has blocked the accounts of Cinkciarz.pl, a Polish financial company with a long history and the trust of hundreds of thousands of customers. According to us, the decision was made completely illegally and is a blatant assault on a legitimate company that has been supporting the Polish economy for 14 years. This is a clear action to the detriment of more than 200 employees of Cinkciarz.pl (a company belonging to Conotoxia Holding), the group's owners and almost one million customers.
Deliberate, retaliatory actions
On December 16 of this year, the CEO of Cinkciarz.pl and Conotoxia Holding delivered a detailed letter to the prosecutor's office revealing a number of irregularities and suspected theft of property of significant value by Central Investigation Bureau of Police employees. Instead of launching a thorough investigation, the prosecutor's office responded to this information with a brutal attack and blocked the company's accounts, apparently seeking to intimidate and pressure us.
All indications are that we are witnessing a crude demonstration of power: the prosecutor decides to show that he can make a “victim” out of us with a single signature. It is worth remembering that the prosecutor, as a public official, is bound by the law and that abuse of power can lead to criminal and financial liability. In our opinion, this is a clear abuse of power.
Blocking accounts like a “death sentence” for the company
Cinkciarz.pl's management stresses that freezing company accounts is a de facto death sentence for any business - it hinders access to funds, halts fulfillment of obligations and ruins the image in the eyes of customers.
It's a classic method: an official can stifle an entity with a single signature, and then explain himself for years with vague 'suspicions'. We do not condone such barbaric practices, especially since they are the result of political and official collusion against the Polish innovative company.
KNF does not tolerate 'resistance' from Cinkciarz.pl
Cinkciarz.pl has been looking for a way to continue operating and has stigmatized the mistakes of Financial Supervision Authority officials. The FSA could not tolerate us continuing to stand on our feet and sought to eliminate us from the market altogether. When this didn't work, the prosecutor stepped in, and now we are seeing the consequences: the blocking of accounts, and a media campaign.
Prosecutor at the service of the FSA
In Cinkciarz.pl's view, the prosecutor's actions have nothing to do with a thorough investigation, but serve only to destroy the company at the behest of the Financial Supervision Authority, which has long been trying to eliminate the company from the market.
Everything indicates that the prosecutor is just a convenient tool in the hands of the FSA. They want to kill the company with 100 percent Polish capital at all costs, because despite the massive publicity and taking away of the decision, we are still acting and fighting against official dishonesty. Such arrangements are a blatant blow to the foundations of the rule of law.
The Management Board of Cinkciarz.pl stresses that as soon as we receive the decision regarding the blocking of accounts we will file a complaint against it. We will also file motions to initiate disciplinary proceedings against the prosecutor in charge of the case, along with lawsuits for exceeding her authority. In addition, the company will seek compensation for any losses caused by the illegal blocking of accounts in Poland and abroad.
Management Board of Cinkciarz.pl