Unveiling Albania's Alleged Pyramid Credit Fraud: SPAK's Investigative Journey

 In a recent significant development in the Albanian legal landscape, the Special Prosecution Office (SPAK) is expected to register a criminal case which, according to sources, may uncover sophisticated pyramid schemes of fraudulent lending and misappropriation of assets belonging to Albanian citizens. This pivotal step comes after the Tirana Prosecutor's Office transmitted the case to SPAK on April 17, 2024, yet sources close to the institution have stated that the case has not yet been put on the docket for the appointment of officers and prosecutors to handle the matter, according to Albanian media.

 

The case was initially pursued by the Tirana prosecutor, Leonard Filopati, who after several months of investigation, determined that the fraud and misappropriation of assets through loans contained elements of an organized criminal group, involving not only the management of "Micro Credit Albania," "Final," and the "Besa" fund, but also a chain of private collectors.

According to the Tirana Prosecutor's Office, the tentacles of this group extend to officials of the Bank of Albania, who, through "Abuse of Duty," have imposed unbearable measures on the lives and properties of thousands of individuals.

The figures implicated in this group, according to the Tirana Prosecutor's Office, include collectors Lefter Cenaj, Helidon Xhindi, Fatos Alimadhi, Saimir Dogjani, Astrit Kaptelli, Rrok Deda, and Altin Vako.

These collector names have worked on behalf of "Micro Credit Albania," controlled by the couple Olsi and Elda Ibro with administrator Andis Gjoka, and "Final," which is controlled by another figure known to the prosecutor as Arben Meskuti and Vasil Bakallbashi.

Hundreds of execution practices have been carried out within a day, which, as the prosecutor's office states, were fictitiously executed by seizing the property of various citizens who had applied and received small credit amounts.

All of this scheme has been carried out by eight collectors.

Now SPAK finds itself facing a concrete investigation led by Tirana prosecutor Leonard Filopati, and the case requires further and more in-depth investigations by special prosecutors, who are expected to register the file next week for the criminal offenses of "Serious Fraud," "Tax Evasion," "Money Laundering," "Organized Criminal Group," and "Abuse of Duty."

LIST OF NAMES:

Officials of the Bank of Albania: 

Olsi and Elda Ibro, owners of "Micro Credit Albania"

Andis Gjoka, administrator of "Micro Credit Albania"

Arben Meskuti, owner of "Final"

Vasil Bakallbashi, administrator of "Final"

Lefter Cenaj

Helidon Xhindi

Fatos Alimadhi

Saimir Dogjani

Astrit Kaptelli

Rrok Deda

Altin Vako