Polish Olympic Chief Detained Over Crypto Scandal Ties

The head of the Polish Olympic Committee, Radosław Piesiewicz, has been detained in connection with a fraud investigation into the collapse of cryptocurrency platform Zondacrypto. The probe is looking into alleged bribes related to a sponsorship deal between Zondacrypto and the Olympic Committee.

Zondacrypto stopped trading in April after investors lost at least 350 million zlotys ($81 million), according to reports. Piesiewicz's arrest marks the first time a prominent figure has been detained in the scandal.

Prime Minister Donald Tusk has linked Zondacrypto to organised crime and Russia, as well as the opposition Law and Justice (PiS) party, which governed Poland until 2023 and still controls the presidency. The prime minister claims that the company funded right-wing events, foundations, and media.

Investigators initially examined whether Zondacrypto had misled investors before entering bankruptcy proceedings. They later turned their attention to personal gifts allegedly received by Piesiewicz from the company, including a Swiss luxury watch worth 40,000 euros, according to Poland's justice minister.