Subtitles: NOA”, Gentian Sula with “management EFT” in Albania, leads to Serbian energy oligarch Vuk Hamovic

A well prepared scheme and more acts, allegedly the setback in electricity imports for Kosovo during 2023-2024. In addition to the company from Albania, Noah Energy Trade, which was defeated monopoly by KESCO, research conducted by the Economic Bulletin, has discovered other companies allegedly part of the imports scheme.

Serbian-born company “EFT Group”, for 20 years, had kept the primat in Kosovo's supply of electricity from import. This company owns Vuk Hamovic, a Serbian businessman, known as the top “player” of electricity trading in the Balkans.

The research reveals “short connections”, between the directors of the branch of this company in Albania and the Albanian company Noah Energy Trade, which is the main importer of electricity for Kosovo during 2023-2024.

According to documents provided by the National Business Centre in Albania, branch director of the company “EFT” in Albania is Mirsad Uruci, an Albanian businessman known for electricity trading since 2017. But EFT's presence in Albania dates back to 2002, with leaders Enver Uruci, Mirsad Urucci's father.

According to documents owned by the Economic Bulletin, Enver Uruci in 2002 had requested from the Court of the Judicial District in Tirana (at that time in Albania, the registration of companies was conducted in the Court), the legal registration of Albania's Association Office “Energy Financing Team Limited”

In this year, society “EFT” registered as “English commercial associate”, but from research it turns out that the real owner is Vuk Hamovic, a Serbian businessman with suspicious past and investigated by several states for transactions in electricity trading. In 2017, “EFT” had changed judicial status in Albania by registering in Albania as a society with limited responsibility and manager, Mirsad Urucci.

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The EFT Group has different branches throughout the region, but also in various European states. One exists in Kosovo, where it figures registered at the Agency for Registering Business (ARBK), since 2015. The manager for the Kosovo branch is the person named Arben Aliaj, while the contact person, Mirsad Urucci, is the person with the name of Arben Aliaj, and the contact person, with the figure manager.

“EFT” has active licenses also from the Kosovo Energy Regulatory Office ( ZRGE) for electricity trading period 2021-2026. Despite the license, during these years, this company did not trade electricity at all with the Kosovar Power Supply Company (KESCO).

The Economic Bulletin has tried to contact company leaders for Albania to ask whether they participated in auctions conducted by KESCO, as well as family ties with company owner Noah Energy Trade, Genian Sula. But despite the initial promise of a conversation with company director Mirsad Urucci, the company has not reported to the contact number.

From research it turns out there is a <x0 family connection” between the owner of “Noa Energy Trade”, Gentian Sula and the Uruchy family.

According to analysed documents, in the EFT company, except for Mirsad Urucci, the Urucci family was employed.

Suada Uruci is married to Ionian Antoni, another renowned businessman in Albania's Imobiliare industry. Anton's sister, Besiana Antoni, is dating Gentian Sulan.

He has confirmed the family connection with the Urucci family in a conversation about the Economic Bulletin, but has denied any co-operation with EFT company, the branch in Albania. Initially, when asked whether he is familiar with Mirsad Urucci, Sula has been not very clear in response.

“O sir, I know all of Albania, all of Kosovo. Did he ask me about EFT, or about Mirsad Urucci? > What about Mirsad?

Well, we don't have any co-operation with this company. You need a lot of clarification?

It has only been more concrete since the medium has offered evidence from social networks, where Soula is seen in the society of Jonian Antoni and Suada Urucci. After that, he has confirmed the family connection, but noting in line that he does not co-operate with the EFT, which is referred to as the Serbian-born “compan.

When asked directly, do you have family ties with the Uruchi family, with Suada Urucci, respectively, Sula has said: “If I have, my wife's brother, has a bride”.

The first “Suada is my brother-in-law's bride. Second, you asked me a question about working with EFT. EFT is not Mirsad Urucci, he is one of EFT leaders. Third, my relationship with Mirsad is cold in person, because of the competition we have, you will be more transparent that I'm answering. I have no relationship. Now, do I trade energy for this company? My answer is zero. I didn't have a contract with EFT, I have nothing more to say about EFT. If you're going to say that EFT sells to Gentian, it's okay, you're going to have to prove it by letter”, he says.

During the conversation, Soula has repeatedly indicated that if you find any evidence of the co-operation of NOA and EFT, it will be published immediately, but there has been no response in any case when asked which manufacturer has collaborated with 2022-2024.

The first “we give answers as long as the contracts allow, because they're confidential issues”, he said briefly.

The NOA company's case has not even been clarified in writing, even after several days of media insistence. In the question of who the producers are you bought electricity through during the 1920s-2024, they have given back sweeping answers.

We operate with a combination of short-term, medium-term contracts, and long-term, depending on market needs and the demands of our clients. The type of contract is determined by market dynamics, seasonal fluctuations and consumer forecasts”, said the NOA reply in writing.

The data provided by the Economic Bulletin from Kosovo Customs shows that the import of electricity for 2017 has come through the transmission lines from Montenegro and Macedonia, but resources at this institution say not necessarily, the product's origin is from these countries. That's because of specifics that have electricity as a product. “We accept reports from relevant institutions about the import of electricity, as electricity is not a physical product, as in the case of various goods”.

EFT Group ownership complexity

At Albania's National Business Centre (QKB), company “EFT Tirana”, feels that it is owned by the company “EFT International Investments Holdings Limited”, which is said to be “a established society and operating according to United Kingdom laws”.

Public data shows that all EFT branches in Europe are run by citizens of origin from Serbia. Thus, the company's partner in England is Serbian national Svetislav Bulatovic, resident in Serbia. While the company's director is national Zoran Ivkovic, also resident in Serbia. The EFT branch, on the other hand, exists AG (The Energy Financing Team), headquartered in Switzerland with electricity trading activities.

Swiss EFT, E FT AG, founded on 20,03,2009 as the sole partner EFT Albania. EFT Albania has obtained licenses from Albania's Energy Regulatory Administration on 1411.2014 for electricity trading. Meanwhile, with the date 08.04.2011, Swiss society sells the Albanian EFT to Cypriot society EFT Investment Limited. By 2606,2016, ownership exceeds society E FT INVESTMENTS. This company moved to the United Kingdom on the date 3,06,2016.

But all EFT Group branches enter under the umbrella of Swiss society E FT AG, where the founder and director is personally businessman Vuk Hamovic. It figures as founder of the EFT Group as well as on the company's official website.

Vuk Hamovic's story?

An article by the Serbian media medium Crick.rs, which relates to the massive flow of data known as the 2016 Panama Papers, Serbian businessman Vuk Hamovic refers to as “the power broker in the Balkans”. His name is mentioned among some of the Serbian businessmen for tax evasion, which was released after the data flow involving politicians and businessmen, as part of a tax evasion scheme.

Public data describes Hamovic as the successor of Rade Hamoviu, a Yugoslav KOS general of Bosnia and Herzegovina, who after World War II, served as a Yugoslav security officer.

According to the “Organised Crime and Corruption Reporting Project”, Hamovic's electricity trading company has reportedly attracted the attention of prosecutors and investigators in many countries. Hamovic is described as: “A magnate in the field of energy, which all of his experience in running Yugoslav state energy companies, after his country's distribution, used to enrich itself”.

“Through his business group, he organised energy trading and financing bilateral debts between the newly formed companies in the states that emerged from Yugoslavia's wider distribution in the region”.

According to OLAF, Hamovic chairman of the Balkan energy generation “”

The exchange of electricity in Kosovo, especially through import, has been under the pipe of European investigators, which has resulted in a 2012 report by the European Office Against Deception (OLAF), which was released at the time by the organisation “Arise”.

By 2012, Serbian companies have been beneficiaries of nearly 400m euros by KEK alone, mainly through electricity imports. During 2006-2013, Kosovo had imported electricity worth 317m euros, of 142m euros, just through the company “Energy Financing Team EFT”

The OLAF report mentions several companies as leading players in the electricity trade in Balkan countries. All small businessmen can access the Balkan energy network only if they achieve co-operation with these companies.

Vuk Hamovic, whose company was leading electricity trading for Kosovo until 2012, is mentioned as well as allegations of suspicious transactions.

Concretically, according to the organisation Geta, OLAF found suspicious links to the tenders of Serbian import energy companies, related to the names “Rudnap” with headquarters in Belgrade, “Gen”, Slovenian company, and company “EFT”, which has headquarters in London, but has roots in the Serbian state. Doubtful transactions have been conducted for European investigators between KEK and Serbian companies at the time. It reportedly used “Artesia Bank” in Greece, where the beneficiaries were businessman Vuk Hamovic, and in this bank have finished payments for firms “EPCG”, “EFT” and “Rudnap”, which according to “O LAF” is considered the Balkan power grid. Also, as the “quoted, arise”, the OLAF report, suspected of connection between “EFT” and “Rudnap”, which is led by a similar group of businessmen, such as Vuk Hamovic, James Nye's Vojin Lazarevic. /Economic Bulletin/