Polish Olympic Committee Sacks President Amid Zondacrypto Scandal

Radoslaw Piesiewicz, president of the Polish Olympic Committee (PKOl), has been fired following his arrest on corruption charges related to a collapsed cryptocurrency firm. On September 14, Marian Kmita was appointed as acting president, who will lead the committee through April.

The removal came after an investigation into Piesiewicz's involvement with Zondacrypto, which collapsed into a $94 million Ponzi scheme. The former president had negotiated and signed a sponsorship agreement between the Olympic committee and Zondacrypto, sparking internal resistance within the organization.

Kmita acknowledged that the fallout from the scandal has left the Polish Olympic Committee in a 'rather difficult financial situation,' and announced an immediate audit to assess the full extent of the financial damage. The probe into Piesiewicz's activities follows allegations that he received lavish gifts, including a luxury watch valued at $46,605, in exchange for using his influence to intervene on behalf of Zondacrypto.