Crypto▼ Bearish
Zondacrypto boss seeks leniency for political ties testimony
Przemysław Kral reportedly faces fraud charges and is cooperating with Polish prosecutors as customer losses hit $650 million. The exchange's political funding is central.
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Przemysław Kral, the head of the collapsed cryptocurrency exchange Zondacrypto, has been charged with participating in an alleged large-scale fraud and is cooperating with Polish prosecutors. He is seeking a reduced sentence in exchange for testimony that could include details about the exchange's funding of right-wing politicians, Polish outlet Onet reported Monday.
Prosecutors estimate Zondacrypto customers lost at least 2.4 billion Polish zlotys ($650 million), according to Onet. Investigators said the exchange used only part of customer deposits to buy crypto. The rest was transferred to private accounts controlled by Zondacrypto managers.
Kral has been negotiating the terms of possible cooperation for six months, Onet reported Friday. He held informal meetings with prosecutors in Poland, Sicily and Persian Gulf countries to discuss a potential deal.