The victims of Amber Gold are waiting for the court’s decision. Will they get money?

On Wednesday, July 30, the Court of Appeal in Warsaw is to announce a final judgment in a high -profile group claim against the State Treasury related to the Amber Gold scandal. The decision may determine whether the people injured as a result of the financial pyramid will receive compensation for neglect from public institutions.

Claims of Amber Gold victims

In 2022, the District Court agreed with over 200 people who demanded a total of over PLN 20 million – without taking into account interest. The amounts of claims of individual process participants are from several thousand to over a million zlotys. The case has been going on since 2015, and the appeal was made three years ago.

According to attorney, the prosecutor’s office abandoned actions in the Amber Gold case despite the warnings of the Polish Financial Supervision Authority. Between 22 January 2010 and August 17, 2012, no charges were charged with members of the company’s management board, which – according to lawyers – could protect many people from losses. In the opinion of the District Court, these neglect resulted in the real financial damage of Amber Gold clients.

Next lawsuits

However, the case has a wider dimension. He appealed against the judgment both the State Treasury, demanding that the claim be dismissed in its entirety, as well as a representative of the group, who questions only a part of distant claims. Any decision confirming the responsibility of the Treasury may open the way to subsequent lawsuits.

Amber Gold operated in the years 2009–2012, tempting clients with a high interest rate of investment in gold and precious metals – reaching up to 16.5 percent. per year. According to the prosecutor’s office, the company deceived nearly 19 thousand. people, causing losses reaching PLN 851 million. A final judgment may be a breakthrough for further pursuit of claims by victims.