An Istanbul court ordered the formal arrest of 11 more suspects as part of the Can Holding prosecution, government-run news service Anadolu Agency reported on October 20.
Among the suspects is Remzi Sanver, the grandmaster of Turkey’s main masonic grand lodge. Sanver is an academic, who served as rector at Istanbul Bilgi University, a private institution that has been seized as part of the Can Holding prosecution.
Tweet: A local mason griped that not a single lodge member raised an objection to the arrest of their grandmaster.
Second detention wave
On October 17, the Istanbul chief prosecutor’s office executed a “second detention wave” under the prosecution, according to Anadolu. A total of 26 suspects were detained.
In September, Turkey’s deposit insurance fund TMSF took over Can Holding. Haberturk TV, Show TV, BloombergHT, Istanbul Bilgi University, Doga Kolejleri and Tekfen Holding (TKFEN) are among the seized units.
Can Holding acquired Istanbul Bilgi University in 2019 and Doga Kolejleri in 2022.
In 2024, Ciner Holding sold its media group to Can. The accusation is that Can earned money from cigarette smuggling and laundered its black cash via the acquisition.
First wave
Following the first detention wave executed in September, Kenan Tekdag, who led the media group for decades as CEO, was put under house arrest. He is among the 11 suspects arrested on October 20.
Binsat Holding owners on bail
The owners of Binsat Holding, namely Cengiz Bingol and Arafat Bingol, are, meanwhile, among the suspects who were released on bail.
Turgay Ciner remains a fugitive
Turgay Ciner, the owner of Ciner Holding, remains a fugitive, while his son along with some other holding officials have been arrested.
Ciner’s Park Holding together with its subsidiaries, namely AFC Ithalat Ihracat Turizm, Zeyfa Ithalat Ihracat, Silopi Elektrik and Borsa Istanbul-listed Park Elektrik (PRKME), as well as some of Ciner Holding’s subsidiaries, including Kasimpasaspor (an Istanbul-based football club in Turkey’s top soccer league), were also seized.
Sisecam receives competition fine
On October 15, Ahmet Kirman, a former board chairman at Turkish glassmaker Sisecam (SISE), received a travel ban after being questioned as part of the Can Holding prosecution.
Sisecam has partnerships with London-based We Soda, a unit of Ciner Holding, in soda ash investments in the US. We Soda is not among the seized Ciner Holding units.
On October 20, Turkey’s competition board said that it had ordered Sisecam to pay Turkish lira (TRY) 3.2bn ($75mn) in fines.
Sisecam said that it would benefit from a 25% discount for early payment and that it would deliver TRY 2.4bn in fines. The company remained silent as regards the Kirman case.
The Istanbul chief prosecutor’s office summoned Hamdi Akin, the billionaire board chairman of Akfen Holding, as part of the investigation centred on jailed Istanbul mayor Ekrem Imamoglu, government-run news service Anadolu Agency reported on October 21.
Akfen Holding said that Akin was not detained. He was summoned, questioned and then released.
Boss of Mandarin Hotels
On the same day, Vedat Asci, board chairman of Astas Holding, was also summoned by the chief prosecutor’s office as part of the same investigation, Anadolu also reported.
Astas Holding owns Mandarin Hotels.
Official of Koc Holding
On October 20, Anadolu reported that Murat Tomruk, general manager of Divan Hotels, was summoned by the chief prosecutor’s office as a “suspect” under the same investigation.
Tomruk was also released after his statement was taken.
Divan Hotels are owned by largest Turkish conglomerate Koc Holding (KCHOL).
On October 21, pro-government daily Yeni Safak reported that Tomruk was asked about an illegal construction at Divan Kurucesme Hotel in Istanbul.
Prosecutors asked Tomruk for his opinion on the allegation that Imamoglu, Turkish president Recep Tayyip Erdogan's chief political rival, ordered municipality officials to accelerate procedures in the licensing of the construction.
Tomruk replied that he had no information on the issue, according to the daily.
Stocks hit
KCHOL is listed on Borsa Istanbul while Akfen Holding also has listed units. The newsflow on the prosecutors’ actions created volatility on the trading boards of the associated stocks.
No comments:
Post a Comment