The audit of the PZU Group reveals irregularities and mechanisms for bringing money to political ends by PiS-related persons. According to the audit documents, which concerned, among others, the Alior Bank Foundation and PZU Group companies, the funds were transferred to non-essential activities of these institutions. The scale of abuse is overwhelming and the auditor's conclusions point to gross violations in the management of the national finance of the champion.
Irregularities in the Alior Bank Foundation
The audit carried out at the Alior Bank Foundation, established in May 2022, revealed that just before the parliamentary elections in 2023 more than PLN 1.35 million were removed from it. According to the auditors, any of these funds could have been allocated to the PiS election campaign, suggesting financial manipulation to safeguard political interests in the face of the expected loss.
The Alior Bank Foundation, presently in liquidation, donated PLN 3.5 million throughout its existence, of which a large part went to institutions not related to its statutory objectives. The administrative costs of the foundation were highly high, absorbing 30% of the revenues per year, which is well above the standards of specified organisations. The board of the foundation, consisting of 2 persons, received a wage of PLN 500 1000 per year, which raises doubts about the efficiency of public funds management.
Controversial donations
The audit besides revealed a number of controversial donations. 1 example is the transfer of half a million zlotys to the Society of Financial Education, which is related to the SKOKs. Auditors noted that the donation agreement was signed just before the election, which may indicate an effort to safe funds in the event of a PiS loss. The function of Jack Sasin, then Minister of State Assets, who oversaw Alior Bank and was affiliated with SKOKs, raises additional questions.
Another questionable transactions include the transfer of PLN 700 1000 to the Poloniki Foundation and the Polish 360 Foundation, where the same individual was the beneficiary in both cases. The dates of the transfer of funds coincide with the dates of the electoral run to the Sejm, which suggests that funds could be utilized for political purposes.
Marketing expenditure and fictitious employment in PZU Health
Irregularities were besides detected in PZU Health, where there was a crucial increase in marketing spending on promotional gadgets, which from PLN 300 1000 in 2022 increased to PLN 500 1000 in 2023. Ordered gadgets, specified as speakers or sonic toothbrushes, have been utilized by the board for no clear purpose, which raises suspicions of unprofitableness.
Additionally, auditors have discovered cases of fictitious employment and occupation creation for circumstantial individuals, frequently associated with PiS policies. The assistant president of the time earned PLN 22 1000 gross per month, and people employed without formal recruitment frequently did not execute their duties, focusing on political activities.
Millions of PZU wellness and Pekao losses
The most gross irregularities occurred in Pekao, which sponsored PiS entities and events for a full amount of PLN 23 million. This expenditure had a direct impact on the financial results of the company, which in 2023 saw a failure of PLN 75 million. specified abuses were peculiarly costly to PZU Health, whose financial situation deteriorated significantly.
Summary
The PZU Group's audit reveals a large scale of fraud that occurred in key institutions related to the national champion. Transfers of funds for political purposes, irregularities in financial management and fictitious employment are only any of the problems detected by auditors. The scale of infringements raises serious concerns about how public funds are managed and indicates the request for a thorough improvement in the management of state-owned companies.
According to Mr Zbigniew Ćwiąkalski, the scale of the fraud revealed by the audit is "terrifying" and requires the immediate intervention of the applicable law enforcement authorities. The conclusions of the study constitute a serious informing against the risks arising from policy links with the management of public companies.
More here:
"Millions brought to political ends". Audit of PZU Group reveals subsequent written embezzlements
