Polish Olympic Committee sacks chief after crypto-linked graft probe

New boss Kmita said the Olympic Committee was in a “rather difficult financial situation” as a result, and announced plans to launch an audit. | Photo Credit: AFP

The Polish Olympic Committee (PKOl) has fired its president after his arrest on suspicion of corruption linked to a cryptocurrency trader, the new interim boss said on Monday.

“The board made a final decision ... to assign the duties of acting president of PKOl to myself,” Marian Kmita told journalists.

Kmita will lead the committee until the end of former president Radoslaw Piesiewicz’s term in April.

Piesiewicz, who is seen as close to Poland’s nationalist right, is suspected of receiving kickbacks from Zondacrypto, a now-bankrupt crypto company that the government alleges had ties to nationalist opposition groups, organised crime and Russian intelligence services.

ALSO READ | Usain Bolt misses thrill of competition but says athletics now belongs to new generation

Authorities launched an investigation in April, which prompted most of Poland’s sports federations to call for Piesiewicz’s resignation.

Piesiewicz was responsible for signing a sponsorship agreement for the Olympic committee with Zondacrypto.

The government estimates Zondacrypto’s collapse caused around 350 million zlotys ($94 million) in losses, with around 30,000 people falling victim to the company.

The interior minister has said that Zondacrypto was “in reality a Ponzi scheme”.

New boss Kmita said the Olympic Committee was in a “rather difficult financial situation” as a result, and announced plans to launch an audit.