Michał Sapota released from arrest after 7 million PLN bail

Michał Sapota, the president of the HREIT Group, has been released from custody after paying a 7 million PLN bail. The decision follows a financial investigation by the District Prosecutor's Office in Łódź, which confirmed that the funds used for the bail did not originate from criminal activity.

Despite his release, Sapota remains under strict preventive measures, including a requirement to report to the police five times a week and a prohibition on contacting any individuals associated with the capital group.

The investigation into the HREIT real estate scandal is expanding. Prosecutors have brought charges against eight additional individuals, including construction managers and intermediaries, for actions such as falsifying site logs. The total estimated losses in the case, which involve allegations of defrauding investors and homebuyers by bypassing developer protection laws, are reported to reach up to one billion PLN.