CEZ Is Probed in Albania for Alleged Fraud, Balkaninsight Says

Feb. 14 (Bloomberg) -- CEZ AS, the Czech Republic’s largest power producer, is under investigation for alleged fraud in Albania, Balkaninsight.com news website reported yesterday, citing Albania’s prosecutor.

The utility’s distribution unit is suspected of overcharging customers and issuing fake fines, the website said, citing the prosecutor.

CEZ has not been contacted by the prosecutor and is therefore unable to comment, spokeswoman Eva Novakova said in an e-mailed message. The company’s accounting is periodically audited and electricity prices are set by the Albanian regulator, she said.

To contact the reporter on this story: Ladka Bauerova in Prague at lbauerova@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net