Turkish Court Orders Arrest of Businessmen in Media Acquisition Probe
A Turkish court has ordered the arrest of businessman Atilla Ciner and Gökhan Şen, CEO of Ciner Glass, on suspicion of money laundering. This arrest is part of a larger investigation into the 2024 acquisition of Ciner-owned media outlets by Can Holding. Meanwhile, an arrest warrant has been issued for Turgay Ciner, the founder and former media boss of the Ciner Group, who is residing abroad.
Turgay Ciner, once ranked among the world's billionaires by Forbes, had an estimated fortune of $1.3 billion in 2021. In 2024, he was a major media player, acquiring and transferring several outlets to Can Holding. However, an investigation targeting Can Holding led to the seizure of 121 of the conglomerate's companies on September 11. This investigation is ongoing, with 12 managers at affiliated companies previously detained, 10 of whom were later released under judicial supervision.
The Ciner Group's Park Holding and affiliated companies have been placed under the control of the Savings Deposit Insurance Fund (TMSF). This move is part of a broader trend since 2016, where the Turkish government has seized hundreds of businesses, often citing links to alleged criminal networks or terrorism financing.
The arrest of Atilla Ciner and Gökhan Şen, along with the issuance of an arrest warrant for Turgay Ciner, highlights the ongoing investigation into the 2024 media acquisition by Can Holding. The seizure of Can Holding's companies and the takeover of Ciner Group's assets by the TMSF indicate the seriousness of the allegations. The situation remains under investigation.
