Turkish court appoints trustees to 18 companies in Can Holding investigation

Turkish authorities appointed trustees to 18 companies operating under Can Holding and Ciner Group as part of an ongoing criminal investigation into organized crime, money laundering and fraud, the Istanbul Chief Public Prosecutor's Office announced on Tuesday.

The prosecutor's office said the investigation into Can Holding officials involves charges of "establishing, managing and being a member of a criminal organization," "laundering assets obtained through crime" and "aggravated fraud."

Investigators found strong evidence of financial and commercial ties between Can Holding and Park Holding, which operates under Ciner Group, according to the statement.

Authorities suspect these connections were used to launder criminal proceeds through various transactions and activities.

Photo shows the entrance to Can Holdings Haberturk, Bloomberg and Show TV offices. (AA Photo)

Ten Can Holding companies receive trustees

The statement identified 10 companies operating under Can Holding, where substantial assets were found and which are suspected of serving to launder criminal proceeds:

• Transworld Uluslararası Nakliyat ve Aracilik Hizmetleri Tic. Ltd. Sti
• Turktab Karon Tutun Mamulleri Gida Paz. Tic. AS
• Turktab Tobacco Gida Lojistik ve Paz. AS
• Turktab Toptan Tutun Mamulleri Paz. Dag. AS
• Turktab Tutunculuk Gida ve Icecek San. Tic. Paz. AS
• Turktab Gida Tutun ve Tutun Mamulleri Paz. Ith. Ihr. Tic. AS
• Turktab Global Tobacco Sigara ve Tutun Paz. AS
• Kuranlar Petrol Otomotiv Insaat Gida San. Tic. Ltd. Sti
• European International Tobacco Sigara ve Tutunculuk San. Tic. AS and Nargill Tutun Mam. San. Tic. AS.

Eight Ciner Group companies also targeted

Authorities also identified eight companies connected to Can Holding and operating under Ciner Group's Park Holding that were allegedly used in criminal organization activities and for asset transfers:

• Park Teknik Elektrik Madencilik Turizm San. ve Tic. AS
• Park Elektrik Uretim Madencilik San. ve Tic. AS
• Konya Ilgin Elektrik Uretim San. ve Tic. AS
• Park Sigorta Aracilik Hizmetleri AS
• Ciner Turizm Ticaret Insaat Servis Hizmetleri AS
• Etz Maden Enerji Petrol San. ve Tic. AS
• Sogutozu Ithalat Ihracat ve Ticaret AS and Kasimpasa Sportif Faaliyetler AS.

The statement said there is strong suspicion that suspects laundered criminal proceeds through activities conducted via companies under both Can Holding and Park Holding, which is part of Ciner Group. Istanbul 5th Criminal Court of Peace appointed the Savings Deposit Insurance Fund (TMSF) as trustee to these companies.

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Background of investigation

The investigation, initially conducted by Kucukcekmece Chief Public Prosecutor's Office before being transferred to Istanbul Chief Public Prosecutor's Office, alleges that a criminal organization was established through Can Holding companies to commit "aggravated fraud," "tax evasion," "introducing income of unknown origin into company accounts" and "laundering criminal proceeds."

The probe was launched based on reports from the Financial Crimes Investigation Board (MASAK) and financial auditing units.

Investigators allege large amounts of money from unknown sources were transferred into companies operating under Can Holding, then moved between various companies to conceal their origins.

Authorities claim tax obligations were reduced through uninvoiced transactions and fraudulent documents. As part of the investigation, assets of 121 companies were seized, TMSF was appointed as trustee, and detention orders were issued for 10 suspects.

September 30, 2025 09:31 PM GMT+03:00