APEC meeting closes in South Korea, WTO dead and buried
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The Istanbul penal (nobetci sulh ceza) court on duty has appointed Turkey’s deposit insurance fund TMSF as trustee at local fintech Ozan, the Istanbul chief prosecutor’s office (@istanbulCBS) said on October 31.
On October 28, the office, which has conducted countless judicial operations since February, launched an X account, where it is releasing official statements.
Istanbul-based Ozan Elektronik Para, launched in 2018 by Ozan Ozerk, a Cypriot Turk who is a citizen of Norway, is accused of money laundering. The company is among 65 electronic money institutions in Turkey.
Turkey first seizes, then tries
Turkey first seizes companies, then tries the suspects. Some companies are sold before the trial process.
Currently, thanks to multiple seizures, the TMSF ranks as the dominant player in Turkey’s fintech industry. It is also the largest conglomerate in the country with operations in almost every sector of the Turkish economy.
TV channel Tele 1
On October 24, TMSF took over the management of TV channel Tele 1. Earlier in the day, Merdan Yanardag, editor-in-chief of the channel, was arrested as part of the espionage investigation targeting jailed Istanbul opposition mayor Ekrem Imamoglu.
TMSF is now also known as among the largest media groups in Turkey, where almost all mainstream media institutions are directly or indirectly owned or controlled by the government.
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