The Special Court replaced the security measure for Chinese citizen Hongping Xiao, CEO of Bankers Petroleum. From arrest to prison, he was sent to house arrest. This decision of the GJKKO comes a few days after SPAK extended the investigation deadlines for the suspects by another 3 months at the end of December.
From the report it follows that during the years 2004–2024, Bankers exported and sold oil with a total value of around 5 billion euros, while not paying profit tax, because it declared losses.
SPAK is investigating the charges of "creation of fraudulent schemes" related to value added tax, "concealment of income", "laundering of proceeds of crime or criminal activity", "abuse of office", "failure to perform duties by tax authorities", "passive corruption of high-ranking state officials or local elected officials", "structured criminal group" and "commitment of criminal offenses by a criminal organization".
