TIRANA, April 23 – The Gulf Oil Company is under investigation for fraud after a number of its operators abruptly closed during the weekend, leaving citizens and businesses with €1.5 million worth of purchasing coupons that were sold below market price the past few months and are now rendered worthless.
Gulf, one of the biggest fuel retail companies in the country, did not file for bankruptcy to the Tirana Court, while its business status is still active at the National Registering Centre (NRC).
However, the first denouncements concerning out-of-order operators came in on Friday, while employees said neither their wages, nor their social insurance had been paid during the past few months.
The prosecution is currently investigating the company’s manager Albano Aliko as the main suspect who allegedly committed the fraud scheme. He is part of a larger group of suspects both locally and internationally.
According to local media, Gulf sold vouchers as cheap as 120 ALL per liter, approximately 25 to 40 percent cheaper than its market value of 165-178 ALL/liter, in a pyramid-scheme that sold inexistent oil before the company allegedly went bankrupt.
Some businesses have prepaid close to 3,000 liters of fuel according to sources, while it’s still unknown what solution will be given to the citizens now owning the vouchers.
Gulf Oil was part of Sun Petroleum, which in turn belonged to a Delaware-based shell company called Universal Energy Group, and its shareholders had so far been unknown; however, local media reported Gulf retailed ARMO refinery oil, which has been bankrupt since last November.
After the news broke out, local media reported the shareholder behind Gulf is Georgian citizen Aleksandre Gogokhia, allegedly involved in money laundering in partnership with former Georgian Defense Minister David Kezerashvili.
Kezerashvili was arrested for corruption and money laundering in France in 2013, while he was on his way to Albania. Gogokhia’s name also came under attention in 2013, when both him and former Tbilisi Mayor Giorgi Ugulava were accused of laundering more than $ 1.5 million to finance Georgia’s United National Movement (UNM) party.
According to Georgian authorities, Gogokhia continued to manage Kezerashvili’s businesses after being arrested on his way to Albania, which led local media to point out the Gulf Oil Company enter the Albanian market in 2013, right after Kezerashvili’s arrest.
Although the prosecution is already investigating Gulf for committing fraud, it is still unclear whether the investigation will include money laundering leads.
