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Marathon hearing for "Bankers Petroleum" ends, Fier Court leaves all imposed measures in force

2025-07-05 18:04:14Aktualitet SHKRUAR NGA REDAKSIA VOX
Marathon hearing for "Bankers Petroleum" ends, Fier Court leaves all
The company's CEO, Hongping Xiao, and former director Leonidha Çobo

The hearing at the Fier Court for those arrested as part of the investigative operation conducted on July 2, at the headquarters of the company "Bankers Petroleum", has concluded.

At the end of the marathon session that lasted about 8 hours, the Fier court decided to leave in force all the measures that the Prosecution had imposed.

Prison for the two company executives and 5 employees "compulsory appearance", as well as "house arrest" for the two financiers.

In the courtroom, the defendants declared their innocence, denying any of the charges brought by the Fier Prosecutor's Office for tax evasion or abuse of office.

The investigation against "Bankers"

The investigation into Bankers Petroleum began on December 30 last year, following a referral from the Tax Investigation Directorate. Over the past few months, the prosecution says that in close cooperation with the Tax Investigation Directorate, they have collected sufficient evidence to establish reasonable suspicion that several criminal offenses have been committed.

The investigation results in the fact that "Bankers Petroleum Albania Ltd", from 2004 until the end of 2024, has been operating at a loss, which has meant that the Albanian state has not benefited from any income for 20 years from this activity, despite the fact that significant quantities of fuel have been extracted and traded in areas known to have oil reserves, Patos-Marinëz-Fier.

Meanwhile, the company has carried out exports and sales within the country from 2004 to 2024 in the amount of 532,433,614,112 lekë.

"It also turns out that the company has declared tax expenses in amounts that exceed revenues from exports and sales, resulting in losses in each fiscal year, where the total value for all periods is 11,691,799,688 lekë. From the investigation, it is suspected that the damage caused to the state budget, through VAT benefits, is in millions of euros," the prosecution announced.

It is suspected that, throughout the entire period it has been operating, the company "Bankers Petroleum Albania Ltd" has fictitiously increased its expenses, in order to result in a loss in the annual balance sheet.

Subsequently, it did not pay any tax on its profits, but benefited from VAT reimbursement through fraudulent schemes, assisted by other individuals and companies contracting with it, with various facilities and activities.

"To achieve this goal, the company and its employees are suspected of falsifying various documents and carrying out financial operations of various natures with various operators and individuals both inside and outside Albania," the prosecution announced.

Meanwhile, investigations continue as several different VAT fraud and money laundering schemes are suspected, where according to the Fier prosecutor's office, it is believed that "many other individuals and companies are also implicated."


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