Turkey confiscates more than 200 companies in operations targeting Gülen

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The government-run Savings Deposit Insurance Fund (TMSF) has in the recent past taken over more than 200 companies as part of investigations into the Gülen movement.

According to the Anadolu news agency, the number of firms confiscated as part of operations targeting the movement had exceeded 200 as of Sept 26.

The government accuses the movement of masterminding a July 15 coup attempt even though the latter denies involvement, demanding credible evidence.

The government’s crackdown against the movement, however, is not limited to the period following the coup attempt since many institutions affiliated with the movement have already had their management seized by the TMSF over the course of the past three years.

The time that the government publicly declared war against the movement coincided with allegations in 2013 of widespread corruption that implicated four then-Cabinet ministers, which were given extensive coverage by the Gülen-affiliated Zaman Media Group at the time.

Among the large conglomerates that have been recently confiscated by the TMSF are Koza-İpek Holding, Boydak Holding, Dumankaya Holding, Kaynak Holding and Naksan Holding.

In separate investigations, the government also confiscated the assets of many businessmen that it considers linked to the movement.

Akın İpek, the CEO of Koza İpek Holding until the confiscation, said 18 of the group’s confiscated companies alone were worth over $10 billion.

The government also seized Turkey’s then-largest Islamic lender, Bank Asya, over its ties to the movement. (Turkey Purge)

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