Seçil Erzan's villa in Bozcaada sold at auction: Found a buyer for 15 million TL

The villa in Bozcaada belonging to banker Seçil Erzan, who is being tried while in custody in the fraud case publicly known as the 'high-yield secret fund', has been sold by the Ezine Enforcement Office.

According to the report in Oda TV, the villa, which was put up for sale due to a 13 million TL debt owed to Zafer Party Keşan District Chair Türkay Gümülcineli, found a buyer for 15 million TL.

VALUED AT 18 MILLION LIRA

According to the report by Medyaradar, Zafer Party Keşan District Chair Türkay Gümülcineli filed an application through his lawyer to the Keşan Enforcement Office on November 12, 2024, for a debt of 13 million 67 thousand TL owed by Seçil Erzan and her mother Fatma Erzan. The letter sent from Keşan to the Ezine Enforcement Office included the following statements:

‘’It has been decided to sell and convert into cash the real estate registered in the name of the debtors of our directorate's file for the conversion of the mortgage into money, with the number written above, located in Çanakkale province, Bozcaada district, Alaybey neighborhood, block 375, parcel 28, with an area of 1,911.30 m2. According to the decision of the Ezine Enforcement Court, the value of the real estate is 18,364,885.75 TL.’’

SHE USED TO HOST HER VIP CLIENTS HERE

The Ezine Enforcement Office initially set a price of 11 million 87 thousand lira for the villa in Bozcaada, where Erzan used to host her VIP clients, including Fatih Terim and Fulya Terim.

Erkan Karaca, one of the victims defrauded by Erzan, found the 11 million valuation too low and filed a lawsuit against Türkay Gümülcineli and Seçil Erzan at the Ezine Enforcement Court to have the valuation redetermined.

In Karaca's criminal complaint, it was stated: ‘’The value of 11,048,037.50 TL assigned to the property is low, and a re-valuation should be made; the property is in a valuable area in terms of location, and the value assigned to the property remains very low when compared to the value of comparable properties in that vicinity. Real estate prices have risen significantly due to the economic crisis that occurred worldwide and in our country during the Covid-19 pandemic process and the subsequent effects of this crisis. The property in question was evaluated as if these developments had never happened, and this issue was not taken into account by the expert despite the fact that real estate prices have risen significantly in today's economic conditions.’’

Following this petition, the court increased the sale price of Erzan's villa to 18 million 364 thousand TL.

FOUND A BUYER FOR 15 MILLION

The villa was put up for sale via auction between December 30 and January 6, 2025. The final bid for the villa, which was put up for sale on December 30 with a starting price of 9 million 222 thousand TL, was placed on January 6, 2025.

At 13:40, the final bid for the villa was 15 million. A total of 9 bids were placed for the villa within the one-week period.