KGHM statement confirms that Sypek conducted illegal currency trading

According to a statement issued yesterday by copper mining conglomerate KGHM Polska Miedz, Marek Sypek, the company's former deputy head, has confirmed his involvement in unauthorized currency dealings. According to the statement, Sypek admitted that in the period between January and March 2000. he conducted transactions without the knowledge or permission of the company's board. The company insists, however, that Sypek's actions had no influence on its financial condition. The public prosecutor in Wroclaw is currently conducting an investigation into illegal activities by former members of the KGHM Polska Miedz board. (Rzeczpospolita, p. B4) P.J.