The Great Private Equity company cheated 100 people for PLN 22 million

The investigation by the Central Anticorruption Bureau concerns the Great Private Equity company. Already in April, its president and vice-president as well as two regional directors were detained. Everything indicates that they did not have great secrets from the investigators and told about the details of the criminal practice. Thanks to this, it was possible to detain two more people - their employees, who are also to have dealt with multi-million frauds.

According to the Central Anticorruption Bureau, the company Great Private Equity has cheated at least 100 customers for a total amount of PLN 22 million. It focused on Forex investments, mainly on currency pairs. Or rather, she said she was focusing because the money was gone. So already in April, the president and vice-president of the company were detained.

Now the time has come for two more people who were visited by masked gentlemen from the Polish services. Great Private Equity representatives who had direct contact with clients were detained. From the stories of the deceived, a gloomy picture of these contacts emerges. 

- The main message was that the Forex market can now provide a stable income of 20-25% per annum. It could have been even more with more risk, but it was also guaranteed then that no more than 10% of the money deposited would be lost and 90% of the capital would be kept. These were the minimum thresholds guaranteed by the company - says one of the deceived in an interview with the Polish Press Agency. 

CBA: we are looking for victims

The social communication department of the Central Anticorruption Bureau has just announced that agents from the Warsaw branch of the CBA have detained in the provinces of Łódź and Mazowieckie. However, it still has not been possible to reach all the victims. 

- Therefore, the CBA asks all persons who entrusted their money to companies from the Great Private Equity group to contact the Warsaw branch - through Great Private Equity Sp. z o. o. and the related company Great Private Commercial Brokers DMCC based in Dubai - we read in CBA announcement.

It is not known how much money they extorted

The case is developmental, because it has still not been possible to find all the defrauded people, and thus add how much the suspects could have embezzled. So far, the agents have established that the two detainees have led about 100 people with losses from a dozen to several hundred thousand zlotys. In total, it is over PLN 6 million. Needless to say, the detainees did not have the permits and powers to make investments on someone else's behalf.

So they heard the charges in the District Prosecutor's Office in Warsaw. They will be tried for fraud to the detriment of the investor and for trading in financial instruments without the required authorization Polish Financial Supervision Authority.

Ghana Property Fraud and Film Production

However, the losses of PLN 6 million are not everything. President and vice president of Great Private Equity detained in April, as well as two regional directors from Poznan i Krakow, in turn, were to lead 152 people to unfavorable disposal of property in the amount of PLN 16 million. However, they were not limited to just Forex marketnor to Poland. They cheated by offering real estate located in Warsaw and even in Nigeria and Ghana. They also said that they were taking care of film production, where they also offered a wide range of "investments" that were to bring above-average returns to anyone who decided to take little risk and, of course, entrust their funds to their management.

To this day, both companies involved in this case - Great Private Equity sp. Z oo, and Great Private Commercial Brokers DMCC based in Dubai - are included in the Financial Supervision Authority's list of warnings.

We warn against using the services of unlicensed companies. Before opening an account, always make sure it is correct the broker has the appropriate regulations and permits at the indicated financial market supervisory institution.