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Turkish authorities issued detention orders for 10 suspects on charges of establishing a criminal organization, smuggling, fraud and money laundering as part of an investigation into Can Holding in Istanbul, prosecutors said Thursday.
The Kucukcekmece Chief Public Prosecutor’s Office said operations were carried out at the suspects’ addresses by Istanbul Gendarmerie Command teams.
Several companies within the holding, including the television networks Haberturk and Show TV, were seized. Meanwhile, Bloomberg was also targeted in the gendarmerie-led operations.
In a statement, the prosecutor’s office said, “It has been determined that an organization was established through companies operating under Can Holding for the purpose of committing crimes, and through this organization, qualified fraud, tax evasion, the transfer of funds of unknown origin into company accounts, and multifaceted activities aimed at laundering criminal proceeds were carried out.”
The statement said the probe followed reports by the Financial Crimes Investigation Board (MASAK) and audit reports by financial oversight units.
Prosecutors allege large sums of money of unknown origin were funneled into Can Holding companies.
The money was transferred among various entities to obscure its sources. It was then used to reduce tax liabilities through unbilled transactions and fake documents.
Authorities said the criminal organization operated under the leadership of Kemal Can and Mehmet Sakir Can.
Numerous companies were allegedly founded in overlapping sectors to complicate supervision, with board reshuffles used to spread responsibility among members in an attempt to evade sanctions.
Media reports claimed that several major firms linked to Can Holding were among those seized, including Doga College, Istanbul Bilgi University, Energy Petrol, Golden Hill Hotels, Private Mediza Hospital and VIP Transport.
The companies were reportedly transferred to the Savings Deposit Insurance Fund (TMSF).
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