The Fier Prosecution Office has revealed new details about the ongoing investigation into the concessionary company Bankers Petroleum Albania, in the context of a probe into tax evasion and money laundering.

In an official statement, the prosecution announced that 14 security measures have been issued as part of the operation, with 9 already executed and 5 individuals declared wanted.

Among those arrested are former company administrator Leonidha Çobo and current director Hongping Xiao, who is of Chinese origin.

“The investigation began following a referral from the Tax Investigation Directorate and was conducted over six months using proactive methods, during which evidence was gathered indicating illegal activities related to tax evasion and money laundering,” the prosecution stated.

The company is facing charges for:

• Creating fraudulent schemes related to VAT

• Concealing income

• Money laundering

• Abuse of office

• Failure to perform duties by tax authorities

The investigation found that from 2004 to the end of 2024, Bankers Petroleum continuously reported losses, avoiding tax payments, despite generating over 532 billion lekë (approx. €5 billion) in domestic and export sales. According to prosecutors, the company reported inflated or falsified expenses that exceeded its revenues, causing substantial damage to the state budget.

As part of the operation, searches were carried out at the company’s premises and private residences, where critical evidence was seized. Several other individuals and companies are also under investigation for their involvement in fraudulent schemes and money laundering.

The Fier Prosecution Office confirmed that it will continue its criminal proceedings with full force to hold all perpetrators accountable.