State fund 'takes control of Koza-İpek Holding’s 18 companies in failed coup attempt probe'

The holding companies, which are worth $10 billion, were transferred to the Saving Deposits Insurance Fund (TMSF) in line with a decision by the Ankara 4th Criminal Court of Justice over alleged links with the Fethullahist Terrorist Organization (FETÖ), said to be behind the failed coup attempt. 

An Ankara court decided last October to appoint a trustee panel to Koza-İpek upon the request of the Ankara Chief Public Prosecutor’s Office. 

The Ankara 5th Court of Peace then justified the appointment, arguing that a trustee panel was “necessary to assign managers with full control to prevent crime and to protect evidence. Reports reveal that this company has helped and been involved in the activities of an organization titled FETÖ, which is said to have attempted to topple the government.”