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Who is Olsi Ibro who extorted tens of millions/ Microcredit fraud scheme

2024-07-20 10:42:00, Kronika CNA
Who is Olsi Ibro who extorted tens of millions/ Microcredit fraud scheme
Micro Credit Albania

Olsi Ibro committed suicide this Friday by jumping from the height of a building under construction in the capital.

Olsi Ibro was wanted for the fraud scheme with microcredits, where Albanian citizens have fallen victims.

Olsi Ibro is the husband of Elda Ibro, who turns out to be the administrator and 100% shareholder of "Micro Credit Albania", one of the microfinance companies involved in the fraud scheme.

Elda Ibro is under "house arrest", after being accused of extorting millions of euros from Albanians.

MCA was established in May 2014. It operated in the market of purchase and execution of problem loans from other banking and non-banking institutions.

Olsi Ibro, on the other hand, was the head of the ADCA law firm, which was also part of the fraud scheme, and the delivery of the properties of borrower citizens to private executors.

From the investigations of the Prosecutor's Office, it was found that Micro Credit Albania interacted with the non-banking institution Final, with ADCA and with some enforcement offices.

They pressured, harassed the debtors and their family members through constant phone calls and confiscated their assets in violation of the law.

All these actions were carried out with the aim of squeezing and forcing debtors to take new loans with inflated principal value and very high interest rates, lying that they are "restructuring the old one" or to pay obligations at inflated values that did not rely on the initial values ??of the execution orders issued by the courts.

In this way, they extorted 10 million euros from the Albanians./ CNA





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