Coal distributor investigated
15:21
Two prosecutor’s offices are investigating, Składywęgla, a distributor of imported coal in Poland, wrote Puls Biznesu. The first prosecutor is looking at the owners and management of the firm, while the second one is checking its connections with a Russian firm.
Składywęgla, with PLN 250 million in turnover, is the largest retail distributor of coal in Poland. A shareholder in Składywęgla, Russian subsidiary KTK Polska, is said to have illegally obtained shares in the company, by financing its purchase with a reduction of the selling company’s debt to Russian KTK.
The manager of KTK Polska, Marek Falenta, said that they’re trying to maintain Składywęgla in Polish hands, as Russian ownership and subsequent direct sale of coal from Russia at cheaper prices, may lead to bankruptcy of Polish mines.
Management of MM Group, the other shareholder in Składywęgla, is under investigation for fraud, tax-evasion, and money laundering in the amount of PLN 85 million.
Składywęgla, with PLN 250 million in turnover, is the largest retail distributor of coal in Poland. A shareholder in Składywęgla, Russian subsidiary KTK Polska, is said to have illegally obtained shares in the company, by financing its purchase with a reduction of the selling company’s debt to Russian KTK.
The manager of KTK Polska, Marek Falenta, said that they’re trying to maintain Składywęgla in Polish hands, as Russian ownership and subsequent direct sale of coal from Russia at cheaper prices, may lead to bankruptcy of Polish mines.
Management of MM Group, the other shareholder in Składywęgla, is under investigation for fraud, tax-evasion, and money laundering in the amount of PLN 85 million.
