Zondacrypto CEO Seeks Leniency in Exchange for Testimony on Political Ties

Przemysław Kral, head of collapsed crypto exchange Zondacrypto, has begun cooperating with Polish prosecutors who have charged him with participating in a large-scale fraud.

Kral is seeking a reduced sentence in exchange for testimony that could reveal details about the company's funding of right-wing politicians, according to Onet. Prosecutors estimate customers lost at least 2.4 billion Polish zlotys ($650 million) after Zondacrypto used only part of customer funds to buy crypto.

Zondacrypto spent 37 million zlotys on advertising with broadcaster Telewizja Republika in its final year, while companies owned by Kral made payments to foundations linked to politicians Zbigniew Ziobro and Przemysław Wipler.