TIRANA, Albania — Albania’s Special Court Against Corruption and Organized Crime (GJKKO) has lifted the travel ban imposed on Leonidha Çobo, former CEO of Bankers Petroleum, allowing him to travel abroad. The court replaced the restriction with a less severe measure requiring him to report regularly to authorities.
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According to figures cited in the investigation and tax audits, the alleged financial damage to the Albanian state exceeds €340 million.
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| Decision No. 771 (dated October 29, 2026) by the Special Court of First Instance against Corruption and Organized Crime (GJKKO) in Tirana, revoking the ban on leaving the country for applicant Leonidha Çobo and ordering the return of his travel documents. |
More than €330 million in alleged unpaid profit tax
Over approximately two decades of operations, Bankers Petroleum reportedly generated gross revenues exceeding $5 billion (532 billion lekë). However, investigators found that the company declared losses of 11.7 billion lekë, allegedly through the artificial inflation of operating expenses, avoiding substantial profit tax payments.
The investigation also identified alleged VAT fraud exceeding €10.5 million, involving the use of fictitious invoices and transactions.
Court decision raises questions about accountability
The removal of Çobo's travel restriction has sparked questions about the handling of one of Albania's most significant financial investigations.
Although the decision does not end the criminal proceedings or exempt the former executive from potential criminal liability, it relaxes the restrictions imposed on him while the investigation continues.
The case has renewed public debate over accountability, the recovery of alleged damages to the state budget and the treatment of major businesses facing serious financial crime allegations.
The central question remains whether the ongoing proceedings will establish individual criminal responsibility and ensure that any proven financial damage to the Albanian state is recovered.