Hacı Boydak, the former chairman of the government-targeted Boydak Holding was released pending trial on Tuesday.
Boydak, along with three other company executives, had been detained as part of a government-led operation on charges of supporting the so-called “parallel state,” on March 4. While Hacı Boydak and Memduh Boydak, the former CEO of the conglomerate, were arrested by a local court in the central Anatolian province of Kayseri, Erol Boydak and Murat Bozdağ were released by the court with the latter pending trial, on March 5.
With the Tuesday release of Hacı Boydak, Memduk Boydak has remained the only person to be behind bars, from the holding.
Boydak Holding is active in a number of sectors, including energy, furniture and banking with 38 subsidiary companies. According to its website, it has an annual turnover of more than TL 6 billion ($2 billion) and employs over 13,000 people.
The company board appointed new names to the posts of four officials a week after they were detained.
The “parallel state” is a derogatory term devised by President Recep Tayyip Erdoğan and his associates within the Justice and Development Party (AK Party) to refer to members of the Gülen movement, which is inspired by Turkish Islamic scholar Fethullah Gülen.
Erdoğan once said he would carry out a “witch hunt” against anyone with any links to the movement.