MONEY, SECOND-GENERATION AKP POLITICIANS, AND FATMA BETÜL SAYAN KAYA
Fatma Betül Sayan Kaya is a politician who has figured prominently in the latest investment fund scandal. She and her husband made staggering sums from funds in a very short time.
Analysis
In-Depth Analysis
Smart, independent reporting on Turkey's politics, economy and foreign affairs.
A SLOW-MOTION FINANCIAL CRASH AND WARNINGS TURKEY IGNORED FUELS SPECULATIONS ABOUT ŞİMŞEK
For over a week, a single issue was on Turkey’s agenda: What happened to the money in the funds? Finance Minister Mehmet Şimşek, who had stayed silent on the crisis since it began and faced growing speculation that he would be fired, broke his silence on Sept. 24 to deny that he was leaving.
GOVERNMENT CONSIDERS 10% TAX ON CORPORATE MONEY MARKET FUNDS
The Finance Ministry has finalized preliminary work to redirect short-term capital inflows toward long-term, productive investments, according to a report by Bloomberg HT.
CYPRUS TALKS: WHAT NEXT?
Based on his experience as the British government’s Cyprus coordinator, Lord David Hannay once said: “No one has ever lost money betting against a Cyprus settlement.”
CONTROVERSIAL COMMENTATOR ARRESTED IN ILLEGAL BETTING PROBE SAYS INVESTIGATION IS 'CORRECT'
Pro-government television commentator Rasim Ozan Kütahyalı was remanded in custody on May 18 as part of a wide illegal betting and money laundering investigation led by the Adana Chief Public Prosecutor's Office.
ILLEGAL GAMBLING CRACKDOWN ENSNARES PRO-GOVERNMENT MEDIA FIGURE, IŞ BANK EXECUTIVES
A sweeping operation targeting illegal online gambling and money laundering networks led to the detention of 128 people across 21 provinces on May 14, including polarizing media figure Rasim Ozan Kütahyalı and two senior executives from İş Bank, one of Turkey's largest private banks.
TURKEY’S GREY LIST RISK FADES
Turkey is unlikely to return to the “grey list” of jurisdictions that don’t do enough to fight money laundering.
MONEY-LAUNDERING PROBE EXPANDS TO SHUTTERED EKOL TV
Turkish prosecutors have opened a money-laundering investigation into Ekol TV, expanding scrutiny that has already targeted Can Medya, Flash Haber, and Gain Medya.
ONCE A TOP TAXPAYER, ARREST WARRANT ISSUED FOR CINER
The money laundering investigation into Can Holding has now expanded to the Ciner Group. The probe, which includes charges of fraud, money laundering, smuggling, and forming a criminal organization, now focuses on the $350 million sale of media outlets — including Habertürk, Show TV, and Bloomberg HT — from the Ciner Group to Can Holding. According to Sabah daily, the funds were allegedly transported in suitcases and deposited in banks as cash. Turgay Ciner, once among Turkey’s top taxpayers and currently residing abroad, is now the subject of an arrest warrant.
PRO-GOVERNMENT FIGURES APPOINTED TO RUN SEIZED TV NETWORKS
New executives for Can Media—recently seized by Turkey’s Savings Deposit Insurance Fund (TMSF) amid a money laundering investigation—have now been officially appointed.
HABERTÜRK AND SHOW TV SEIZED IN FRAUD PROBE
Authorities seized Habertürk, Show TV and Bloomberg HT, along with 121 other companies tied to Can Holding, after the Küçükçekmece Chief Prosecutor’s Office issued arrest warrants for eight people, including owners Mehmet Şakir Can, Kemal Can, and Chairman of the Board Kenan Tekdağ. The suspects face charges of forming a criminal organization, smuggling, fraud, and money laundering.
SYRIA’S NEW LEADER PAYS LOW-KEY VISIT TO TURKEY
When Syria’s new foreign minister chose to go to Saudi Arabia and Qatar for his first international visits before coming to Turkey, the main opposition party criticized the government, asking why Asaad al-Shaibani did not choose to reciprocate the visits of the Turkish foreign minister who went to Damascus two weeks after the fall of the Assad regime. For experts, this was only natural since Syria is first and foremost an Arab country and prioritizing relations with Turkey would have caused irritation among Arab capitals. In addition, while Turkey is struggling with its own economic hardships, Syria’s new rulers need Gulf money to get the country on its feet.