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The arrest warrant issued for Turkish businessman Turgay Ciner, chairman of Ciner Group, has been lifted in connection with a money laundering probe, London-based WE Soda, the group's overseas soda ash affiliate, announced Monday.
In its disclosure, WE Soda said all detainees were released without charge and state trusteeship at Park Holding was revoked, with management returned to company executives under supervisory oversight.
The statement relates to a criminal investigation focused on Istanbul-based Can Holding and several companies tied to the Ciner Group.
The Istanbul Public Prosecutor’s Office opened the probe in September 2025 over allegations that large financial transfers were structured to hide their origin and breach financial crime regulations.
Within that process, authorities issued a detention order for Turgay Ciner, who was reported to be abroad at the time and did not surrender to authorities.
Investigators reviewed the December 2024 sale of Ciner Group media outlets, including Haberturk TV, Show TV and Bloomberg HT, to Can Holding to assess whether the deal involved proceeds of crime or related offenses, with prosecutors citing “strong suspicions” about the source of funds used in the transaction.
As part of the case, courts ordered asset seizures at 121 affiliated companies and appointed trustees from the Savings Deposit Insurance Fund (TMSF), a state body that can take over company management during legal proceedings.
Prosecutors also issued arrest warrants and detention decisions for several senior executives.
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