Prosecutors seek 885-year terms in failed ‘chateau’ project
BOLU
Prosecutors are seeking prison sentences totaling up to 885 years for each of the 13 defendants accused of defrauding investors in a luxury housing project that promised opulence but ended in ruins.
The case centers on the "Burj Al Babas" project, a now-abandoned construction site in the northwestern city of Bolu's Mudurnu district.
Launched in 2014 by the Sarot Group, the development aimed to build 732 "chateau-style" villas — each 325 square meters — as part of a grandiose holiday village marketed to wealthy foreign investors, particularly from Kuwait.
According to the indictment prepared by Istanbul prosecutors, the project was promoted as a self-contained resort featuring beauty centers, horse riding tracks, sports halls, cinemas, entertainment venues, conference facilities and Turkish baths. Financing was intended to be driven by foreign capital.
However, none of the promised amenities materialized, and not a single villa was delivered. Despite knowing the project could not be completed, sales reportedly continued even after 2018, when the companies managing the development filed for and were later declared bankrupt.
The indictment said over $67.1 million entered the accounts between 2014 and 2018 through 1,041 transactions — all from Kuwaiti investors, including prominent business figures.
A report by the Financial Crimes Investigation Board cited major discrepancies in accounting records, including missing payment documentation and inconsistencies between bank transactions and internal company data.
The 13 defendants include senior Sarot Group executives Mehmet Emin Yerdelen, Adem Tekgöz and Mezher Yerdelen. Prosecutors have also requested the seizure of all real estate and company shares owned by the suspects.
