Analysis
Smart, independent reporting on Turkey's politics, economy and foreign affairs.
The Istanbul Chief Public Prosecutor’s Office has launched a narcotics investigation that led to the arrest of eight people including Habertürk Editor-in-Chief Mehmet Akif Ersoy and some anchors.
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.
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.
Can Media Group, which acquired Habertürk TV and Show TV late last year, has announced a major leadership reshuffle as part of its strategic realignment.