Turkey

Turkish court appoints administrators at Koza Ipek Holding

Court accepts prosecution request for conglomerate accused of financing terrorism

26.10.2015
Turkish court appoints administrators at Koza Ipek Holding

Ankara

ANKARA

A Turkish court cleared Monday the way for Koza Ipek Holding -- a 23-company conglomerate -- to be placed under the control of administrators amid allegations of links to terrorism.

A court in Ankara agreed to a prosecutor’s request to remove control from the current board of directors.

The company, which has interests in media, energy, construction and mining, is accused of providing funding for the “Gulenist Terror Organization” headed by U.S.-based preacher Fetullah Gulen, who is said to have infiltrated Turkey’s state apparatus with thousands of followers in an effort to overthrow the government.

They are accused of being behind a corruption investigation in December 2013 that targeted government ministers.

Chairman Akin Ipek is believed to have left Turkey before police raided his companies’ premises last month.

In its judgment, Ankara Fifth Criminal Court of Peace said a letter from the city’s chief public prosecutor outlined how Ipek was “understood” to provide financing for Gulen. The letter said that if the company’s executives were to continue in their roles “there is strong suspicion that [they] will continue committing the specified crimes”.

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