The former president of the board of PKP Cargo, named as Adam P., and two other former board members, have been arrested on suspicion of mismanagement.
The investigation relates to the takeover of the Czech carrier Advanced World Transport (AWT).
In 2015, PKP Cargo purchased 80 percent of the shares in AWT, which is based in Amsterdam. The findings of the investigation show that the transaction price of more than EUR 103 million was overstated by over half.
Adam P. joined the PKP Group in 2012, and a year later he joined the board of PKP Cargo. He was responsible for preparing the company's stock exchange debut. He was the president of the company from November 2013 to December 2015.