Indian businessmen wanted for fraud and money laundering, invest in Albania

The two Sandesera brothers were the owners of the Sterling Biotech pharmaceutical company.

PThe coscope reported a few weeks ago  How Prime Minister Ramush Haradinaj officially received the Indian investor, a party of these brothers, who are accused of fraud and money laundering.

During 2008-2011 they have received over $725m in loans from several state banks in India, money that didn't go into the stereo account, but disappeared through a network of 300 independent companies established by themselves.

The scandal was made public in January last year when the Economic Crime Agency in India arrested Andra Bank Director, the largest bank to have extended loans to the Sandesara brothers. At the same time, Indian authorities blocked the properties of Sterling Biotech company, which became the process of bankruptcy.

But the two Sandesera brothers fled India. Until recently, Indian authorities believed that Nitin Sandesara and Chatancumar Sandesara had fled to Nigeria and later to the United Arab Emirates, countries with which India has no extradition agreement.

But while searching by Indian authorities, the two Sandasera brothers have arrived in Albania. On February 6th of last year, when they were in international search, they have managed to take over Albanian citizenship, which makes them impertable in their country, though on March 19th the Indian court has authorised the search statement.

Coming to Albania in late 2017, Nitti and Chatancumar Sandesara have established two companies in the construction sector, Tulja Real Estate and Laxmi Real Estate.