Deputy Finance Minister's son investigated for money laundering

Five security company officials “Euroisig” are being investigated by the Prosecutor and ATK under suspicion of laundering money. Among those being investigated, the name of Art Gashi, son of Deputy Finance Minister Fatmir Gashi, figures, according to documents provided by ORAinfo. 

Art Gashi, son of Deputy Finance Minister Fatmir Gashi, along with five other security company officials “Euroisig”, is being investigated by the Kosovo Tax Administration (ATK) under suspicion of delivering money.

According to documents provided by ORAinfo, investigations are under the supervision of the Constitutional Prosecutor and are part of an extensive investigative action on the insurance market.

Gashi, along with the other five “Euroisig” officials, Muhamet Boja, Shozen Fetiu, Korab Luka and Adrian Batusha, are suspected of manipulation in case of car insurance sales. They are suspected of opening out businesses whose accounts have raised huge sums of money, which were later used for questionable activities on the market.

With this money, company agents allegedly sold car insurance to customers at cheaper prices than is set for BQC fees, which for this type of insurance are fixed. This whole thing's breaking down vital competition in the market.

Investigations are under way for 2013-2015.

ORAinfo has secured a document issued by the ATK Tax and Intelligence Department, dated 30.03.2017, in which these investigations are confirmed.

For ORAinfo, the investigations have also confirmed by the Kosovo Tax Administration, but without providing much details about their development performance.

“Based on Article 84, Law No. 03 L-222, “Tax Information Confidenciency”, I think we can't give answers to the journalist's question, because they're concrete to the subject (not general) and much more so when these investigations are under prosecutorial supervision”, said Valentina Bytyqi-Sefa, spokeswoman in ATK.

Names of suspicious businesses

In the ATK document, they find the names of five businesses, through which allegedly “Euroisig” conducted suspicious activities. They are: “The S.p.k”, Vali 2 Shp.k”, “Alesia Sh.p.k”, “Bland Sh.p.k”, “Dedi-install”. All these businesses are active.

“For the above-mentioned businesses, we request the following documentation: Eurosig acquisition bills The US from the top businesses joined their paychecks. The contracts (agreements) of business co-operation with these businesses. The purchase folders for these businesses, except”, are said in the ATK letter to the company “Euroasig”.

In the same document, ATK also asks the company for work contracts for five suspects.

“Muhamet Boja, Shzen Fetiu, Korab Luka, Art Gashi, Adrian Batusha. For underscored persons, we seek employment contracts between workers and business from 2013 to now”, the document says.

Gashi is currently not part of “Euroisig”, in which he had held the chief staff position. Now he is executive director at another insurance company, at “Insig” respectively.

ORAinfo has contacted Gashi about these claims. He has not answered questions directed against the newspaper's insistence.

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The Kosovo Central Bank on the Law is a security market regulator, but despite this official from this institution, they have told the paper that they are unaware whether investigations are under way on the part of ATK.

They have only confirmed that “Euroisig” is currently under management of the CEC, due to the financial problems the company had been through.

“The insurance company “Euroisig” due to legal changes and increased requirements against the insurance sector, according to the Solvence regime 1 required by the Law on Insurance, has failed to ensure full compliance with these requirements. Given that, the Central Bank of the Republic of Kosovo, according to legal competencies, the Law for Insurance, respectively, in order to restore the insurer to a stable financial situation, has placed the company under temporary administration”, said Kufja Ahmeti, spokesman at the CEC.

According to him, over the past year “Euroisig” has engaged with positive results. The company's profits during 2017 amounted to about 1.3m euros, until the positive result was also noted in the first quarter of this year of 161 thousand euros.

“However, given the legal framework in force, the company will remain under administration until the return of the stable financial situation”, Ahmeti added.