0:00 10 October 2025
NewConnect firm ruled criminal
The Warsaw District Court has found that Progres Investment, once listed on NewConnect, operated as an organized crime group that defrauded clients of more than PLN 100 million. The firm, active from 2011 to 2015, promised rapid growth through short-term loans secured by real estate but collapsed in bankruptcy.
Judge Izabela Ledzion sentenced founder and former CEO Paweł J. to eight years in prison, ex-vice president Marek A. to 6.5 years, and Tomasz T., former head of Benefia Life Insurance, to nearly five. The court ruled that Benefia financed Progres’s criminal operations through bond and share purchases.
In total, 13 defendants were convicted, several receiving suspended sentences for money laundering or aiding the group. The court described the crimes as “highly socially harmful.” The verdict is not final, and recovering the stolen assets may take years.
Source: bankier.pl
