Top Colloseum executives arrested on fraud charges

Owner and CEO of Financial Investment Consortium Colloseum (KFI Colloseum) J ozef J. and company chairman Mariusz L. were placed under arrest yesterday m orning on charges of fraud and forgery. Announcing the arrests, the Katowice district court disclosed that 12 other people, including the company's vice- president and accountant, are also suspected of involvement in the case. The two main suspects are charged with financial fraud, forging documents, illeg al arms possession, and actions causing harm to the company. They failed to win bail, despite being vouched for by a local MP and the Silesian branch of the Business Center Club. Investigations by the State Security Office (UOP) into the two men have been going on for over a year. They were taken in for questioning by the court on Wednesday afternoon, prompting protests by union s at the Colloseum-owned Pokoj and Ferrum steel mills. Jozef Skudlik from th e Pokoj mill's Solidarity Union said, "We are not questioning the accusation s. But we do not want Colloseum executives in jail, since the banks will sto p granting our mills any credit." The unions are fearful that the mills may be taken over by foreign investors, leading to job losses. (Gazeta Wyborcza, p. 24; Prawo i Gospodarka, p. 4; Rzeczpospolita, p. A4) M.T.K.