Microcredit fraud network (MCA, Final, ADCA, TDR Group, enforcement offices): SPAK criminal case sent to trial
Status: Trial referral (SPAK closed investigation; case sent to court, 23 Jul 2025, per Shqiptarja). Court not named in the article. No verdict found. Governor-related file: preliminary investigation at SPAK, no charges found.
Summary
Investigators and courts describe a network of non-bank microcredit companies (Micro Credit Albania sh.p.k., Final sh.p.k.) and private enforcement offices that bought bad loans from second-tier banks and then pursued borrowers with late-payment interest of 2 to 8 percent, enforcement actions and blocked wages, property and vehicles. The Tirana Prosecution Office first handled the file; in 2024 it was transferred to SPAK, which closed its investigation and on 23 Jul 2025 sent 16 persons and 4 companies to trial on charges that include aggravated fraud, document forgery and structured criminal group, as reported by Shqiptarja.
The Bank of Albania suspended and then revoked the licences of Final (licence No. 11) and Micro Credit Albania (licence No. 38) on 23 May 2024, citing that the partners had been placed under arrest measures. A separate BSH supervisory decision on 16 Aug 2024 suspended Rrushkull One and Perlat for six months for anti-money-laundering and reporting failures.
According to the Transparency International CEPI record, the Bank of Albania supervisory department identified high-risk findings at MCA in July 2020, and the governor suspended MCA's lending licence in December 2022 while allowing debt collection to continue. Transparency lists the governor as politically exposed and as the subject of a preliminary investigation (abuse of functions, Criminal Code Article 248) for late or inadequate measures against the scheme. Transparency also reports that MCA bought about 85 million euro of non-performing loans from ten banks and institutions by July 2020, paid about 5.2 million euro and recovered about 10.7 million euro, and that investigators suspect 36.8 million euro was taken through abusive fees affecting about 30,000 citizens. These figures are investigators' suspicions as presented by Transparency, not court findings. Sejko's own statement to the Economy Committee (21 May 2024) gave different counts: 15,944 MCA borrowers, about 90 percent with a court decision or in enforcement, and 9.6 billion lek of bad loans bought from banks.
No SPAK case number and no GJKKO case number were found in any opened source.
Key facts
- Bank of Albania supervision thematic examination of MCA identified highest-risk findings in July 2020 (Transparency CEPI).
- Ministry of Justice complaint, February 2020, and a Tirana Court proceeding against the enforcement firms (Shqiptarja, 13 Jun 2024).
- Tirana Court kept security measures for nine persons on 24 May 2024: five in prison (one in absentia), four under house arrest (Shqiptarja, 24 May 2024).
- Court of Appeal changed measures for four of them on 13 Jun 2024 (Shqiptarja, 13 Jun 2024).
- BoA suspended Final and MCA by Decision No. 644 dated 6 Feb 2024, then revoked both licences on 23 May 2024 (BoA press release).
- BoA suspended Rrushkull One and Perlat on 16 Aug 2024 for six months (until 31 Jan 2025 for Rrushkull One) (Shqiptarja, 16 Aug 2024).
- SPAK closed investigation and sent 16 persons and 4 companies to trial on 23 Jul 2025 (Shqiptarja, 23 Jul 2025).
- Olsi Ibro, named by prosecutors as a leader, was not a defendant; he died in July 2024 (Shqiptarja, 23 Jul 2025).
- Pal Trashaj, a borrower, died after drinking a poisonous liquid outside SPAK on 2 Jul 2024 (search summary, Shqiptarja).
The record
Four lists kept apart on purpose: what is established, what is only alleged, what is still open, and what those concerned said.
What is proven (2)
Established by documents or official records, as stated in the research. A recorded charge or indictment proves only that the accusation was made.
- The Bank of Albania revoked the licences of Final sh.p.k. (No. 11) and Micro Credit Albania sh.p.k. (No. 38) on 23 May 2024, stating that partners were under arrest measures at the Prosecution's request (BoA press release, primary text). The page cites no statute article.
- Court measures of arrest were issued in May 2024 for nine persons (Shqiptarja, 24 May 2024; press report of a court decision, not a final judgment).
What is alleged (2)
Accusations, not findings. Those accused are presumed innocent.
- AllegationThat the group defrauded tens of thousands of borrowers and took tens of millions of euro (Transparency CEPI; Shqiptarja, 23 Jul 2025).
- AllegationThat the governor delayed or weakened supervision (Transparency CEPI; Shqiptarja, 10 Jul 2024).
Allegations and who made them (3)
Each line is an allegation as recorded, with the person or body that made it where the record names them.
- AllegationProsecutors allege a structured criminal group bought debtors' loans and used enforcement offices to pressure borrowers into new loans and to block wages, property and vehicles (Shqiptarja, 24 May 2024; 23 Jul 2025).
- AllegationProsecutors allege at least 36.8 million euro and about 1,700 properties were taken from about 17,000 citizens over more than nine years (Shqiptarja, 23 Jul 2025, as reported).
- AllegationInvestigators suspect that the Bank of Albania governor took late and inadequate measures against the scheme (Transparency CEPI; Shqiptarja, 10 Jul 2024).
Open questions (4)
- SPAK case number and the court (GJKKO or other) that received the 23 Jul 2025 referral.
- Trial date, any verdict, and any change to detention measures in 2025-2026.
- Whether the 10 million euro bank-account seizure ordered by the Tirana Prosecution (search summaries of Shqiptarja and Telegrafi, date not confirmed) was executed and upheld.
- Whether the Bank of Albania has completed the administrative review of the Micro Credit Albania appeal (Decision No. 2819 of 27 Jun 2024, cited in a search summary).
Responses (3)
Responses of the people and organisations concerned, as recorded.
- Bank of Albania (press release, 23 May 2024): licences revoked because partners no longer met the high ethical reputation requirement after arrests. Source: https://www.bankofalbania.org/Press/Press_Releases/Revocation_of_licence_to_MCA_and_FINAL.html
- Gent Sejko (Economy Committee, 21 May 2024, Shqiptarja): said revoking MCA's licence does not free borrowers from debts, and that the BoA does not license or supervise judicial enforcers. Source: https://shqiptarja.com/lajm/mashtrimet-me-kredite-nga-mca-sejko-shpjegime-tek-ekonomia-skishim-informacion-per-hetime-revokimi-i-licences-nuk-cliron-qytetaret-nga-kredia-e-papaguar
- Defendants' responses to the 23 Jul 2025 referral were not found in opened sources.
Timeline
Full timeline →Government
Ministry of Justice complaint that starts the enforcement-firm file (per Shqiptarja)
Shqiptarja (13 Jun 2024) says the case began with a Ministry of Justice complaint in February 2020. The article does not give the filing body or case number in detail.
Other
Bank of Albania supervision thematic examination of MCA identifies highest-risk findings
Per the Transparency CEPI case record. The primary BoA document was not opened.
Other
BoA suspends MCA lending licence; debt collection allowed to continue
Per the Transparency CEPI record (December 2022). A search summary also cites Governor's decision No. 5689 of 29.12.2022 for Micro Credit Albania, not opened. Shqiptarja (21 May 2024) says violations first found in 2020 led to a one-year suspension in 2023.
Government
BoA Decision No. 644 suspends Final and Micro Credit Albania
Cited in the BoA press release of 23 May 2024 as the earlier suspension that preceded revocation.
SPAK
Tirana Prosecution asks SPAK to investigate Governor Sejko
Per the Transparency CEPI record: referral for suspected late or inadequate measures against the MCA scheme. Shqiptarja (10 Jul 2024) reports a similar referral by prosecutor Leonard Filopati weeks before the GJKKO ruling.
Police
Arben Meskuti arrested in the microcredit case (search summary)
A2 News (search summary only, page returned 403 on fetch) reports Meskuti was arrested in May 2024. A later summary (Feb 2025) says the Special Court rejected his request for release. Charges per that summary: fraud with serious consequences, forgery, structured criminal group.
Parliament
Governor Sejko appears at the Economy Committee; heated exchange; meeting suspended for five minutes
Sejko's statements to MPs: MCA has 15,944 borrowers, about 90 percent with court decisions or in enforcement; revoking MCA's licence does not free borrowers from debts; the BoA is also investigating FINAL. MP Agron Shehaj said people were 'being robbed by an unprecedented scheme'. Committee chair Eduard Shalsi moved to suspend the session.
Government
Bank of Albania revokes licences of Final sh.p.k. (No. 11) and Micro Credit Albania sh.p.k. (No. 38)
Decision taken on 23 May 2024 after the partners of both companies were placed under arrest measures at the Prosecution's request. The page cites the general legal and regulatory framework, not a specific article. The BoA said it is 'addressing the legal and regulatory framework' for the client portfolios.
Court
Tirana Court keeps security measures for nine persons (five in prison, four house arrest)
Per Shqiptarja (24 May 2024): charges of theft and abuse of office; names include Aldo Daka, Albert Gega, Edmond Mato, Arben Meskuti (sole partner of FINAL sh.p.k.), Alban Kote (in absentia), Jorsida Dervishi, Alketa Tanushi, Kejda Seferi, Elda Ibro (administrator of Micro Credit Albania). The article reports 3,999 bad loans worth about 7.3 million euro taken from a second-tier bank; about 17,000 people affected. The article body says all nine measures were kept, while the URL slug says 8 of 9; the body text is used here.
Court
Court of Appeal changes measures for four arrested persons
Per Shqiptarja (13 Jun 2024): Albert Gega and Edmond Mato released from detention (Gega to house arrest, Mato to an obligation to appear); Alketa Tanushi and Jorsida Dervishi placed under an obligation to appear. Charges and code articles are not listed in the article.
Other
Pal Trashaj dies after drinking poison outside SPAK
Reported 2 Jul 2024 (search summary of Shqiptarja reports). Trashaj, 63, from Lezha, said MCA had blocked his property and salary for five years over a 2008 loan he said he had repaid. SPAK wished him recovery; police said an investigative group was working on the circumstances; SPAK said his case was not part of its investigations. The son said the family would take legal action.
Protest
Joint Movement (Lëvizja Bashkë) protests at the Bank of Albania with 'Sudja 2.0' banner
Activists compared the schemes to the 1997 pyramid collapse. Activist Klodi Leka said there were 'serious doubts' that Governor Sejko was personally involved; the article offers no evidence for this. The movement held the Bank responsible for licensing and supervision. No Bank or governor response is quoted.
Government
BoA Supervisory Council suspends Rrushkull One and Perlat (AML and reporting failures)
Rrushkull One suspended for six months, until 31 Jan 2025, for inaccurate financial statements, failure to report to the loan register, and failure to prevent money laundering (no client income checks, no transaction monitoring, late cash-transaction reports above 1 million lek). Perlat suspended pending merger procedures; no end date stated. The article quotes no BoA statement.
Court
Special Court rejects request for release of Arben Meskuti (search summary)
A2 News summary (page not opened). Date from the search summary.
SPAK
SPAK closes investigation and sends 16 persons and 4 companies to trial
Per Shqiptarja (23 Jul 2025, 11:39, updated 12:50): charges include aggravated fraud, document forgery, structured criminal group and criminal acts by an organised group. Companies: Micro Credit Albania sh.p.k., ADCA sh.p.k., Final sh.p.k., Zyra e Përmbarimit Privat TDR Group. Named heads: Arben Meskuti and Elda Ibro. Olsi Ibro is named by prosecutors as a leader but died in July 2024. The article does not name the court, gives no case number and does not mention Sejko or the Bank of Albania. The a2 News summary of July 2025 (search result only) says the Tirana Prosecutor's Office assessed that the Bank and its governor could be held responsible for delayed or inadequate measures; not confirmed in an opened source.
Connections
- Court proceeding←Special Prosecution Against Corruption and Organized Crime (SPAK)Source label: Officially reported
SPAK sends 16 persons and 4 companies to trial (23 Jul 2025)
Evidence: Shqiptarja (23 Jul 2025): SPAK closes investigation and refers the case to trial; court not named.
HYPOTHESIS: the 2026 draft immunity rule for the governor relates to the microcredit file (SPAK preliminary file)
Evidence: For: the draft (15 Jul 2026, Neni 72) would require Constitutional Court authorisation before any arrest or search of the Governor; the governor is the subject of a SPAK preliminary file opened in 2024 that exit.al (23 Jul 2026) links to the draft; the draft was published while that file has no announced closure. Against: the draft text does not mention the microcredit case, the MCA companies, any person or any file; the draft applies to all Governors and Deputy Governors and is presented by the Bank as EU alignment; no SPAK, government, Bank or parliamentary statement links them; the governor has not been charged; no 2026 SPAK action against him was found; the Syri TV headline is a sidebar claim with no source; the draft's flagrante exception is not in the exit.al summary. Cross-reference:conn-hypothesis-draft-immunity-spak-case (same hypothesis, text-based analysis). Confidence UNVERIFIED: no documented fact establishes the link.
HYPOTHESIS: an Assembly or government change to the BoA law was made in response to the microcredit investigations (Syri TV headline)
Evidence: For: the headline (unsourced) and the draft's 2026 timing after the 2024 investigations and 2025 trial referral. Against: the only documented text is a consultation draft with a stated EU-alignment basis and Constitution Articles 78, 81(2)(a), 83(1); no adoption found; no source ties the draft to the microcredit case; no government or parliament statement found on the link. Confidence UNVERIFIED.
Sources for this record
Every source the research cites for this record, grouped by its source label. 12 sources.
Source label: VerifiedVerified · 1 source
- Publisher
- Bank of Albania
- Date
- 23 May 2024
Source label: Officially reportedOfficially reported · 7 sources
- Publisher
- Transparency International (CEPI)
- Date
- Mar 2025
- Publisher
- Shqiptarja
- Date
- 23 Jul 2025
- Publisher
- Shqiptarja
- Date
- 24 May 2024
- Publisher
- Shqiptarja
- Date
- 16 Aug 2024
- Publisher
- Shqiptarja
- Date
- 13 Jun 2024
- Publisher
- Shqiptarja
- Date
- 21 May 2024
- Publisher
- Citizens.al
- Date
- 4 Jul 2024
Source label: Under investigationUnder investigation · 1 source
- Publisher
- Shqiptarja
- Date
- 2 Jul 2024
Source label: UnverifiedUnverified · 3 sources
- Publisher
- A2 News
- Date
- Feb 2025
- Publisher
- exit.al
- Date
- 23 Jul 2026
- Publisher
- Ministry of Finance (konsultimipublik.gov.al)
- Date
- 15 Jul 2026