Turkish prosecutor orders seizure of media-to-education group Can Holding

A Turkish prosecutor’s bureau said connected Thursday it ordered the seizure of the companies of Can Holding, proprietor of large media outlets and schools, successful an probe into wealth laundering, tax evasion and organised crime.

Can Holding owns large television channels Haberturk, Show TV and Bloomberg HT, which it acquired from Turkey’s Ciner Group precocious past year. Can besides owns Istanbul Bilgi University and backstage schools franchise Doga Koleji, according to its website.

Istanbul’s Kucukcekmece prosecutor’s bureau said successful a statement Can Holding and its owners were utilizing their companies to determination wealth illegally and forging documents. It said an organised transgression ringing was established by Can Holding owners Mehmet Sakir Can and Kemal Can.

It said Turkey’s fiscal crimes probe unit had inspected Can Holding’s documents and accounts, uncovering that it was illegally obtaining funds, evading tax regulations, while financing operations done amerciable funds.

“As portion of the operation, assets of 121 companies were seized, TMSF was appointed arsenic a trustee, and detention orders were issued for 10 suspects,” it said, referring to Turkey’s Savings Deposit Insurance Fund (TMSF).

TMSF said its precedence during this play was to support the rights of employees and third parties, and to guarantee uninterrupted concern operations. It said that each companies under its absorption will beryllium tally successful enactment with ineligible requirements. (Reuters)