Turkish Authorities Seize Assets in Can Holding, Ciner Group Money Laundering Probe
Turkish authorities have seized assets and appointed trustees to numerous companies under Can Holding and Ciner Group as part of a wide-ranging criminal investigation. The probe, focusing on money laundering and fraud, has resulted in detention orders for ten suspects. Meanwhile, a devastating earthquake has struck the Philippines, claiming at least five lives.
The investigation, which began earlier this year, has targeted ten Can Holding companies and eight Ciner Group companies. Authorities suspect that financial and commercial ties between the two groups were used for money laundering. Trustees have been appointed to manage these companies as the probe continues.
In total, assets of 121 companies have been seized, and trustees appointed. The investigation alleges the establishment of a criminal organization through Can Holding companies to commit fraud, tax evasion, and money laundering. Charges include establishing and managing a criminal organization, money laundering, and fraud.
Separately, a 6.9 magnitude earthquake has struck Palompon, Philippines. At least five deaths have been reported, with rescue efforts ongoing.
The investigation into Can Holding and Ciner Group is ongoing, with no specific individuals linked to the allegations of organized crime, money laundering, or fraud. The earthquake in the Philippines has caused significant damage and loss of life, with further details expected to emerge in the coming hours.
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