Thursday, August 30, 2012

Alleged Ponzi Gold Fund Founder Held


According to the WSJ a Polish judge on Thursday ordered the detention of a man alleged to be behind a Ponzi scheme that is roiling politics and raising questions about financial regulation here, as Parliament debated who was at fault after the unraveling of a gold-derivatives business the man started.

Marcin Plichta, founder and chief executive of Amber Gold Sp. z o.o, was arrested by police on Wednesday and charged with fraud and other financial crimes. Amber Gold collapsed earlier this month, leaving thousands of Polish investors looking for repayment of millions of dollars….

More?  Check out http://online.wsj.com/article/SB10000872396390443618604577621540340350870.html

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