Turkish prosecutors indict bank CEO in $44 million Ponzi scheme

ANKARA — Istanbul prosecutors accused the CEO seabank and another former executive above an estimated $44 million Ponzi scheme that drew money from dozens of people, including football stars, according to Turkey’s state-run Anadolu Agency.

Anadolu said in a statement on Tuesday that the indictment seeks prison sentences of 72 to 240 years for Hakan Ateş, CEO of Denizbank, owned by Dubai-based Emirates NBD, and former bank manager Mehmet Aydoğdu.

The accusations came as part of a lawsuit filed last year against former Denizbank branch manager Seçil Erzan.

Erzan, who has been behind bars since April 2023, was accused of collecting millions of dollars from people and promising interest of up to 250 percent for, in his words, a secret fund belonging to the bank. It turned out that this was a pyramid scheme. According to an indictment prepared last year.

twenty-four people including Turkish football stars He said they were tricked into giving millions of dollars to Erzan, according to both indictments. Some of these transactions took place in places other than banks, such as bakeries. In some cases, complainants were not provided with documentation regarding their investments.

The indictment also includes the names of former Barcelona midfielder Arda Turan, Uruguayan goalkeeper Fernando Muslera and former Turkish national team coach Fatih Terim.

According to Anadolu’s news, prosecutors claim in the new accusations that Ateş and Aydoğdu, who “had close communication and relations with some of the complainants”, were aware of the fund. However, according to Anadolu’s report, both Ateş and Aydoğdu deny any knowledge of Erzan’s actions and maintain their innocence.

Denizbank announced last week that Aydoğdu resigned from his position as deputy general manager. In response to the developments, the bank issued a statement on Tuesday denying any wrongdoing. He criticized the leaking of details to the press, arguing that this violated the principle of presumption of innocence. The bank stated that such leaks “trample on the most fundamental principle of criminal law, which is protected by the constitution: the presumption of innocence and the right not to be tarnished.”