Poland faces $378M criminal case over failed Venezuelan oil deal

The scandal centers on Orlen Trading Switzerland (OTS), which entered into three crude oil agreements between August and December 2023. According to investigations, OTS advanced $330 million to Dubai-based firms, including $230 million to Hannon International. Much of this capital was reportedly converted into USDT to bypass traditional banking restrictions as brokers attempted to facilitate payments inside Venezuela. Despite these outlays, the expected six million barrels of Merey 16 crude largely failed to materialize, leaving chartered tankers waiting offshore before they were forced to depart empty.

Warsaw prosecutors have indicted three former executives—Michał R., Marcin O., and Filip W.—alleging they failed to protect company assets and properly supervise the high-risk transactions. If convicted, each could face up to 25 years in prison. The indictment specifically cites $378 million in damages, a figure distinct from broader estimates that include secondary shipping and legal costs. Meanwhile, former OTS chief Samer A. remains the subject of a separate, ongoing extradition effort by Polish authorities from the United Arab Emirates. The Polish Internal Security Agency continues to pursue the case, scrutinizing the flow of funds and the compliance failures that allowed hundreds of millions of dollars to vanish into a complex web of digital assets and offshore intermediaries.