Company placed under trusteeship had written a book about Erdoğan

As part of an investigation conducted by the Istanbul Chief Public Prosecutor's Office, it was decided to appoint trustees to Investco Holding and its 20 subsidiaries. The Savings Deposit Insurance Fund (TMSF) was appointed as the trustee for the companies in question by the decision of the Istanbul 10th Criminal Judgeship of Peace. The process was expanded following the arrests of company executives during the investigation.

It is noteworthy that Verusa Holding, one of the companies placed under trusteeship, has a wide influence in the mining sector. While a significant portion of Turkey's bauxite reserves are in the hands of this holding, it controls 22 different bauxite mining sites from Adana to Muğla and from Konya to Eskişehir through Standard Boksit İşletmeleri AŞ. Bauxite is known as the primary raw material for the aluminum industry.

Activities in the mining field are not limited to this. Galata Altın, a subsidiary of Verusa Holding, also holds rights to significant gold mines in Tokat, Balıkesir, Kütahya, Çankırı, Ankara, Bayburt, Amasya, and Manisa. Additionally, strategic iron mines in Sivas, Erzincan, and Tokat are also in the holding's portfolio.

It is known that the holdings have a stake in the government's prominent projects not only in mining but also in fields such as energy and construction. In particular, it is reported that Aldem Çelik has been involved in major projects such as the Istanbul Marmaray, Osmangazi Bridge, 1915 Çanakkale Bridge, Fatih Sultan Mehmet Bridge, and the Ambarlı Wastewater Treatment Plant. Industry sources point out that the scale of these projects provided the holdings with significant financial power.

The management staff consists of notable names. It has been determined that Ömer Özbay, the author of the book 'The Birth of a Leader: Recep Tayyip Erdoğan' and a presidential advisor between 2011 and 2017, served as the CEO at Verusa. This situation has brought the dimension of the relationship between politics and the business world in the investigation to light.

On the other hand, it was noted that Ünsal Ban, who was among the former executives of the holding until he was appointed to a public office in 2014, is also among them, and that Ban has recently fled abroad.

According to the statements made, the goal of the TMSF trustee management is to ensure the continuation of company operations and the protection of commercial flow. However, the developments have reopened the debate on the relationship between Turkey's economy and politics, while keeping the possibility of the investigation's scope expanding on the agenda.

News Source: 12punto