• President of UOKiK Tomasz Chróstny imposed a total of more than PLN 4.2 million in fines on 10 companies of the HRE Investments group.
• The companies will incur a penalty for failing to provide the information requested by the Office in its investigation.
• Any entrepreneur who ignores summonses from the President of UOKiK faces monetary sanctions of up to 3 per cent of turnover.

The President of the Office of Competition and Consumer Protection has imposed a total fine of PLN 4,211,000 on HRE Investments and nine companies belonging to its capital group for evading to provide information requested by the Office in its investigation into practices that violate the collective interests of consumers. Entrepreneurs delayed answering the Office’s questions and handing over documents, eventually doing so late.

- The aim of the proceedings conducted by the President of UOKiK is to quickly eliminate practices that violate consumer rights and competition rules. This is why the duty to cooperate, including the provision of exhaustive information and documents within the deadlines set by the Office, is so important. Any entrepreneur who ignores our summons faces financial sanctions of up to 3 per cent of turnover - notes the President of UOKiK Tomasz Chróstny.

Decisions on fines imposed on individual companies

• HREIT S.A. - PLN 3,200,000
• Apartamenty Barona sp. z o.o. - PLN 179,000
• South Star Development sp. z o.o. - PLN 168,000
• Apartamenty Senatorska sp. z o.o. – PLN 144,000
• West Star Development sp. z o.o. - PLN 141,000
• BDC Development S.A. - PLN 133,000
• HRE Investments sp. z o.o. - PLN 82,000
• Sikorskiego 36 sp. z o.o. - PLN 80,000
• Lotnisko Park sp. z o.o. - PLN 42,000
• North Star Development S.A. - PLN 42,000

The decisions are not final. The entrepreneurs have the right to appeal to the Court of Competition and Consumer Protection.

UOKiK’s measures against the HRE group

The President of UOKiK has taken a number of measures against HRE Investments Group entities. The fines imposed on the 10 companies are related to the investigation through which the President of UOKiK brought charges and ultimately issued decisions against three companies a year ago, finding a violation of collective consumer interests. Two managers were also fined. At the time, the President of UOKiK found that consumers were unlawfully persuaded to acquire shares in companies developing property development projects. The purchase of shares was presented as an attractive and safe form of investment. In doing so, no significant risks were communicated.

The President of UOKiK systematically warns consumers about the risks involved in investing, including alternative investments. For more information, see materials available at uokik.gov.pl.