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Istanbul prosecutors issued an arrest warrant for prominent Turkish businessman Turgay Ciner on Sunday as a criminal investigation into alleged organized crime and money laundering expanded from Can Holding to include his business empire.
The Istanbul Chief Public Prosecutor's Office announced that Ciner, who is currently abroad, is wanted in connection with the December 2024 sale of 22 companies from his Ciner Holding to Can Holding. Prosecutors said they found "strong suspicions and evidence" that the transaction involved laundering proceeds from criminal activities.
Ciner, owner of the Ciner Group conglomerate that operates in energy, mining, natural soda ash, container glass and shipping sectors, had sold major media outlets including Haberturk, Show TV, Bloomberg HT and HT Spor to Can Holding last year before stepping back from the media business.
The investigation centers on whether the December 22, 2024 share purchase agreement between Can Holding and Ciner's media companies constituted money laundering within an organized criminal enterprise. Prosecutors stated that "criminal proceeds were used to launder assets" during the corporate transfers.
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Authorities conducted simultaneous operations at Ciner Group companies on Saturday, detaining 10 executives from Park Holding A.S., Silopi Elektrik Uretim A.S., and AFC Ithalat A.S. The Istanbul Police Department's Financial Crimes Unit participated in the coordinated raids.
The state fund TMSF was appointed as trustee to manage Park Holding A.S. and its subsidiaries AFC Ithalat Ihracat Turizm A.S., Zeyfa Ithalat Ihracat A.S., and Silopi Elektrik Uretim A.S. under court order.
The investigation initially focused on Can Holding, whose chairman Kemal Can was arrested Saturday on charges of "establishing and managing a criminal organization" and "concealing the illegal source of assets." Several other Can Holding executives, including Devran Cimen, Devran Can, Mehmet Kaya and Kemal Cimen, were previously detained, while Kenan Tekdag was placed under house arrest.
State trustees have been appointed to manage 130 companies within the Can Holding structure. The prosecutor's office said the investigation is ongoing and further developments will be announced to the public in Türkiye.
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