Arca Capital offers cooperation to the US authorities

19. 01. 2021

PRAGUE - Arca Capital Group will cooperate with the US authorities in investigating the unlawful activities of Pavol Krúpa, a former shareholder of the Arca Capital group. Pavol Krúpa is being sued in the federal court in South Carolina for the extortion of businessman Zdeněk Bakala. Mr. Bakala demands more than $ 76 million from Pavol Krúpa to compensate for the damages and the legal representation costs.

When the acts were to be committed, Pavol Krúpa managed Arca Capital Bohemia. These acts and his actions may have also damaged the entire Arca Capital Group.

"Any criminal activity, such as the extortion, is unacceptable and we cannot act as if we did not notice it. We want to prevent similar practices from happening again as we at Arca Capital Group have been facing similar attacks from the former shareholder for several months.Therefore, we are ready to cooperate with the law enforcement authorities not only in the Czech Republic, Slovakia and the United States”, explains the majority shareholder of the Arca Capital Group, Rastislav Velič. "We are verifying these facts as a part of an ongoing in-depth audit as we suspect Arca Capital funds were misused for these illegal activities", adds Rastislav Velič.

It can be seen via publicly available sources and the current Federal court’ files (Bakala v. Krupa et al 9: 18-cv-02590). Pavol Krúpa was said to demand 500 million CZK to end his hostile campaign activities.In addition to Krúpa, the organizers of this campaign were to be his closest collaborators, namely his nephew Juraj Krúpa and Barbora Hanáková, the spokeswoman for KGI. In communication with the Crowds on Demand agency owner, they had been sending him direct instructions and they were referring to Pavol Krúpa as their "boss".

The Crowds on Demand agency owner, Adam Swart, has confessed to the execution of this campaign. He said, among other things, that his agency had been hired by Krupa Global Investments, led by Pavol Krúpa, to lead a hostile campaign against Mr. Bakala.The Crowds on Demand received instructions to run the campaign exclusively from Pavol Krúpa’s associates. (https://www.apologytobakala.com/)

Autor: Arca Capital,
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