Poland prepares second Interpol red notice for Bogusław Bagsik, with a photograph causing delays

Bogusław Bagsik, one of the most notorious figures from Poland’s major financial scandals of the 1990s, is now the subject of an Interpol red notice valid across 196 countries. The notice followed a request from the Warsaw Regional Court, which had to provide his fingerprints and a digitally usable photograph for police databases.

“The issuance of the red notice results from the enforcement of a criminal conviction,” court spokeswoman Judge Anna Ptaszek told Rzeczpospolita. She said Interpol confirmed on Thursday that the entry had been made.

That notice may soon be followed by another. The Warsaw court is preparing a request concerning money laundering linked to nearly 2.8 million euros obtained through fraud against a Swiss company and a French company. Bagsik was convicted in that case in December 2019, and Ptaszek said the documents were nearly complete and would be submitted within days.

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The issuance of the red notice results from the enforcement of a criminal conviction.

Poland first heard of Bagsik through Art-B, the company he created with Andrzej Gąsiorowski, and their notorious “oscillator.” The scheme repeatedly placed the same money in different banks using uncovered checks, generating what the article says amounted to 420 million current zlotys for the company’s executives.

The red notice now in force concerns a financial pyramid operated between 2005 and 2007. According to the court’s findings, Bagsik and an associate deceived 106 people in Warsaw and Britain. Investors put in more than 32 million zlotys expecting their capital back and an annual return of more than 50 percent. Bagsik established a company headquartered in Britain with a Polish branch, presenting Forex-market investments as the attraction. The court concluded that it was a classic pyramid scheme and sentenced him to six years in prison in October 2019. After the conviction became final, the court ordered his arrest, but searches for him produced no result.

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The documents are nearly complete, and the request will be submitted in the coming days.