Can Holding probe expands amid new detentions
The investigation into Turkish conglomerate Can Holding, which owns several TV channels, has expanded to Ciner Group, the former owner of the media networks, with 12 new detentions on Sept. 29.
Turkish prosecutors on Sept. 28 issued an arrest warrant against prominent businessman Turgay Ciner and the seizure of several companies under his mining-to-energy conglomerate, Ciner Group, as part of an investigation into media company Can Holding, which had acquired TV channels from Ciner.
On Sept. 11, prosecutors seized Can Holding’s companies amid allegations of money laundering, tax evasion and organized crime.
Can Holding purchased major television channels Habertürk, Show TV and Bloomberg HT from Ciner Group late last year.
The Istanbul Chief Prosecutor’s Office stated that these acquisitions were suspected of involving money laundering, issuing an arrest warrant for Ciner, who was reportedly abroad.
Twelve individuals, identified as executives in Ciner Group companies, were apprehended in coordinated operations.
The prosecutors’ statement also confirmed that state trustees were appointed to oversee Ciner’s Park Holding and affiliated firms, including AFC Import Export Tourism, Zeyfa Import Export and Silopi Electric Production Inc.
In the ongoing Can Holding investigation, Kemal Can, accused of founding and leading the organization, was jailed pending trial on charges of establishing and managing a criminal organization and concealing the sources of assets.
Kenan Tekdağ, head of the media group, was released under house arrest.
“An organization was formed to commit crimes via companies operating under Can Holding, including fraud, tax evasion and money laundering,” prosecutors in Istanbul’s Küçükçekmece district said.
“Large sums of funds of unknown origin were introduced through Can Holding companies and transferred between firms to obscure their source,” the statement added. Allegedly, forged documents were also used to reduce tax liabilities and certain activities of Can Holding were “directly financed with illicit revenues.”
