Finance
21:40 27 July 2020
Post by: WBJ

Competition agency imposes fine of over PLN 7.2 mln on Lartiq

Competition agency imposes fine of over PLN 7.2 mln on Lartiq
Source: Pxfuel

Lartiq (formerly Trigon) misled consumers by offering mutual funds. The President of UOKiK imposed a fine of over PLN 7.2 million on the company, informed the office in a press release.

"The Lartiq company offered complex and very risky financial products, such as investment certificates issued in order to collect funds for the purchase of debt portfolios. However, it presented them to consumers as something intermediate between a bank deposit and a classic investment fund. The product presentations showed that the guarantee agreement was a full security capital, with a minimum rate of return of 5-6 percent (depending on the fund)," the release reads.

The guarantor of the Lartiq Profit XVIII-XXIV NSFIZ funds was GetBack (currently under restructuring). The Office reminded that GetBack's financial problems became famous in the spring of 2018 in connection with its corporate bonds.

(PAP)

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uokik
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