Polishprosecutors have issued an international arrest warrant for Marcin Pióro, chiefexecutive of currency exchange platform Cinkciarz.pl (andConotoxia), after a court approved his detention in absentia on fraud chargesthat could carry up to 25 years in prison.Cinkciarz.pl CEO BecomesSubject of International ManhuntThe PoznanRegional Prosecutor's Office announced the manhunt decision came immediatelyafter a local court granted a 30-day pre-trial detention order for theexecutive, who has remained outside Poland since the investigation began lastOctober.Prosecutorsestimate clients lost over 112 million zloty ($28 million) through the onlinecurrency exchange service, with investigators receiving more than 7,000complaints from users who couldn't recover their deposited funds.“As part ofthe ongoing investigation, no procedural actions have been carried outinvolving Marcin P. due to the suspect residing outside the country,” the ProsecutorOffice commented in official statement. “The charges against the suspect carrya penalty of up to 25 years in prison. The case remains under activeinvestigation.”You mayalso like: CyprusRegulator Suspends Conotoxia Ltd’s Investment License Over Compliance GapsExecutive Reportedly inUnited StatesAccordingto sources familiar with the case, Marcin P. traveled to the United Statesafter the scandal broke around his company. Affected clients have reportedlytracked down his specific address through social media posts, though attemptsto secure U.S. citizenship allegedly failed several years ago.Theexecutive has maintained his innocence throughout the investigation, dismissingthe case as a "media spectacle" designed to manipulate publicopinion. Ina June LinkedIn post, he wrote: "I'll manage the pathology of thePolish system just fine. You'll get your turn too - I have 3 years for that, soI advise you not to show off."Court Finds StrongEvidenceHowever, thePoznan court ruled that evidence gathered during the investigation"strongly suggests" Marcin P. committed the alleged crimes. Judgescited concerns about potential witness tampering, flight risk, and the severityof potential punishment as grounds for detention.The fraudcharges stem from an investigation that began after Poland's FinancialSupervision Authority (KNF) revokedthe payment services license for Conotoxia, which operated throughCinkciarz.pl agents. Prosecutors subsequently froze 328 bank accounts connectedto the currency exchange business.Other Executives Alreadyin CustodyThe casehas already ensnared other company leaders. Robert G., a board member, wasarrested in March on similar fraud charges but pleaded not guilty. MonikaJ., the company's chief accountant and attorney, was detained in May afterconfessing to her role in the scheme and providing detailed testimony toinvestigators.Both remainin pre-trial detention as the investigation continues to expand.Legalexperts expect Polish authorities to request Interpol issue a "rednotice" for Marcin P., which would alert law enforcement worldwide andpotentially lead to his detention if located in the United States.The processcould prove lengthy and complicated. If Marcin P. obtained U.S. citizenship,American authorities retain discretion over whether to approve extradition oftheir own nationals under the 1996 Poland-U.S. extradition treaty.Defensestrategies could include challenging the legal basis for extradition, filingmultiple appeals, or raising humanitarian concerns about prison conditions inPoland. Legal experts estimate the process could take one to two and a halfyears if actively contested.This article was written by Damian Chmiel at www.financemagnates.com.