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'Bankers' tax evasion, Chinese CEO and former director jailed

Politiko 2025-07-05 17:39:21

'Bankers' tax evasion, Chinese CEO and former director jailed

The Fier Court has remanded in prison the Chinese CEO, Hong Ping Xiao, and the former director of Bankers Petroleum.

The court also confirmed the measures for the other 7, who are expected to be clarified by the institution. The hearing began at 09:00 and lasted for 8 hours, where the parties presented their claims.

According to investigations, the company "Bankers Petroleum Albania Ltd", from 2004 to 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, despite the fact that significant quantities of fuel have been extracted and traded in areas known to have oil reserves, Patos-Marinëz-Fier.

According to the investigation, the company has made 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 the income from exports and sales, resulting in losses every year, where the total value for all periods is 11,691,799,688 lekë.

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