'Businessman of the Year' and 10 others detained in 100 million lira fraud: Paid for the award
In an operation centered in İzmir, 11 suspects, including the chairman of the board, were detained for illegally acquiring shares of a bankrupt insurance company and embezzling the company's capital, causing 100 million lira in public loss. It was also learned that the chairman of the board had paid 180,000 lira to have himself awarded 'Businessman of the Year'.
İHA
Investigations conducted by the İzmir Financial Crimes Investigation Bureau revealed that a suspect identified as K.G. had illegally acquired majority shares of an insolvent insurance company. During the 5 months he managed the company, he embezzled a portion of the company's capital through various transactions, despite the firm's poor financial condition.
As a result of the investigations, it was learned that to evade oversight by the 'Insurance and Private Pension Regulation and Supervision Agency', numerous transfers were made below the threshold subject to audit. The insurance company's capital was transferred to certain firms under the pretext of purchasing goods and services, and the funds siphoned from the company were subsequently transferred to K.G.'s private accounts.
Examining invoices issued on behalf of the company, the teams determined that personal expenses of K.G. and board member T.E., as well as their families—including hotel stays, hospital bills, clothing, beach club fees, and home renovation costs—were also paid using company capital.
PAID FOR THE AWARD
Technical and physical surveillance also revealed that company employees, during conversations over the IP phone system, remarked "He is the one eating, and we are the ones stressed" while processing payments involving criminal activity. Investigations determined that K.G. paid approximately 180,000 lira from the company's capital to have himself awarded 'Businessman of the Year'. It was revealed that the insurance company executives directly embezzled approximately 15 million lira and caused a total public loss of approximately 100 million lira by making payments above market averages to companies close to them under pretexts such as 'roadside assistance, spare parts, and agency expenses'.
11 DETAINED
Meanwhile, 11 suspects were apprehended and detained in simultaneous operations conducted in İzmir, Istanbul, and Ankara.