Eleven Arrested in Expanding Can Holding Financial Crime Probe in Turkey

In a significant development in Turkey's ongoing financial crime crackdown, a criminal judgeship of peace has formally arrested eleven individuals as part of an expanding investigation into the conglomerate Can Holding. Among those taken into custody are prominent figures such as Remzi Sanver, former Rector of İstanbul Bilgi University, and Kenan Tekdağ, Chairman of Can Broadcast Holding. The arrests, which occurred on October 20, 2025, follow a second phase of operations that saw a total of 26 individuals initially detained by the İstanbul Gendarmerie Command. The probe centers on allegations of establishing a criminal organization, money laundering, and various financial irregularities.

Investigation Details and Allegations

The investigation, spearheaded by the İstanbul Chief Public Prosecutor's Office, began in September 2025. It targets Can Holding, a vast conglomerate with 121 affiliated companies operating across diverse sectors including durable goods, hospitality, education, energy, construction, and media. Prosecutors have accused the detainees of 'membership in a criminal organization' and 'laundering assets derived from criminal activity.' The charges also encompass 'qualified fraud,' 'violations of the Tax Procedure Law,' and 'fuel smuggling.'

A report from the Financial Crimes Investigation Board (MASAK) revealed approximately 88 billion Turkish lira (equivalent to about $2.1 billion) in suspicious financial transactions within the accounts of Can Holding and its associated companies between 2020 and 2021. Investigators allege that the scheme involved the issuance of fake invoices to facilitate tax evasion and illegal profit, with no actual movement of goods. Funds were reportedly funneled through Enerji Petrol Ürünleri A.Ş. and its subsidiaries, which prosecutors believe were central to the illicit activities.

Key Figures Among the Arrested

The eleven individuals formally arrested on October 20, 2025, include several high-profile names:

• Remzi Sanver: A respected academic who served as Rector of İstanbul Bilgi University from 2011 to 2015 and previously as Grand Master of the Grand Lodge of Free and Accepted Masons of Turkey.
• Kenan Tekdağ: Chairman of Can Broadcast Holding, who had previously been detained in the initial phase of the operation in September but was released under house arrest before being re-arrested.
• Mehmet Sıddık Kaya
• Emin Şahin
• Nuh Zafer Metin
• Serap Özgür
• Abdulselam Yıldız
• Tuncay Şahin
• Adnan Yıldız
• Nurettin Paksoy
• Mustafa Şahin

Following their interrogation, 15 other individuals were released under judicial control measures, which include travel bans, with some placed under house arrest. These individuals include Arafat Bingöl and Cengiz Bingöl, board members of Binsat Holding, as well as Betül Can and Zühal Can, identified as wives of the company owners.

Corporate Seizure and Broader Context

In a related development, the Savings Deposit Insurance Fund (TMSF) has seized control of Can Holding and its 121 affiliated entities. This includes significant media assets such as television channels Habertürk, Show TV, and Bloomberg HT, as well as educational institutions like Istanbul Bilgi University. The seizure underscores the broad reach of the investigation and the government's intervention in the conglomerate's operations. The ongoing probe has sent ripples through Turkey's business community, raising questions about corporate governance and financial oversight within large holdings. Authorities have also frozen the assets of 16 suspects and the 121 companies linked to the conglomerate as the investigation continues to unfold.