Treasury Ministry files fraud accusation against former PZU management

The Treasury Ministry has submitted to the public prosecutor's office an accusation of fraud against the former management of insurance giant PZU. In its submission the ministry suggests that the company paid too much for real estate it purchased, and accuses the management team led by Wlasyslaw Jamrozy of responsibility. According to the ministry announcement, "Due to the actions of the former management, and its negligence, PZU suffered losses reaching several million zlotys as a result of inflated prices paid for land, and contracts and investment agreements that were faulty and unprofessionally drafted." (Gazeta Wyborcza, p.18) M.K.