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Istanbul Bilgi University, a renowned foundation university in Türkiye, has been placed under the management of state-appointed trustees following a money laundering probe targeting the owners of Can Holding, which had been exercising control over the institution.
The university announced on Friday that the Savings Deposit Insurance Fund of Türkiye (TMSF), which assumes control of companies seized during legal proceedings, had dismissed its managing board. Three administrators from the Higher Education Council (YOK), the regulatory authority for Türkiye’s universities, were appointed in their place.
In a statement, Istanbul Bilgi University confirmed the appointment of trustees and stressed that academic life would continue without disruption. The Higher Education Council (YOK) also said the investigation did not threaten the continuation of teaching or research activities..
YOK President Erol Ozvar stated that while the university had been included in the judicial process through its affiliation with Can Holding, "there is no situation that should cause concern for faculty members, administrative staff, or students." He added that classes and university operations would proceed normally, and further updates would be shared with the public.
The move follows a wider investigation launched by the Istanbul Chief Public Prosecutor’s Office into Can Holding’s owners on allegations of establishing a criminal organization, smuggling, fraud, and money laundering. More than 120 companies linked to the group—including well-known media outlets such as Haberturk, Bloomberg HT, and Show TV, as well as entities in education and energy—were seized earlier in the week.
The holding’s owners, including Mehmet Sakir Can and Kemal Can, were among several individuals facing detention orders.
Founded in 1996, Istanbul Bilgi University is a foundation higher education institution known for its programs in social sciences, law, and communication. In 2019, the university came under the control of Can Holding after the company became its largest financial contributor through a $90 million bid.
The university operates three campuses in Istanbul—Kustepe, Dolapdere, and Santralistanbul—serving thousands of students each year.
The institution is among the most preferred universities for foreign students in Türkiye. With the appointment of trustees, its governance will remain under state supervision until the investigation into Can Holding is concluded.
In Türkiye, foundation universities are legally non-profit institutions established by private foundations but regulated by the state. While they receive funding from tuition fees and their founding organizations, their academic and administrative structures are overseen by the Higher Education Council (YOK) to ensure compliance with national education standards.
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