Warsaw Stock Exchange
GetBack, which completed an IPO on the Warsaw Stock Exchange (WSE) in July 2017, has been at the centre of a widening scandal since missing payments on its debt in mid-April.
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Konrad Kakolewski |
Multiple members of the firm’s senior management, including former CEO Konrad Kakolewski, have been arrested on charges including fraud, mismanagement and destroying evidence.
Other members of the Warsaw financial community have also been caught up in the affair.
Several asset managers are facing scrutiny over investments in distressed debt funds managed by GetBack, while two former board members of WSE-listed fund manager Altus were detained in early September on charges relating to the sale of debt collector EGB Investments to GetBack in May 2017.
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