Turkish Supreme Court upholds conviction of Ipek family members

By Gokhan Ergocun

ISTANBUL (AA) - Türkiye’s Supreme Court has upheld the conviction of some Ipek family members for crimes such as being a member of an armed terrorist organization, aiding an armed terrorist organization, and opposition to the Capital Market Law.

The eight-year litigation process ended with the decision of the 3rd Criminal Chamber of the Supreme Court that transferred the Koza Ipek Holding and the companies in the same group to the Turkish Treasury, provided that the rights of the investors in the stock market are protected, said a statement by the Savings Deposit Insurance Fund (SDIF).

Previously, Akin Ipek, a businessman with links to the Fetullah Terrorist Organization (FETO), leveled allegations against the SDIF in the UK but Britain's Supreme Court rejected all allegations.

The UK's court confirmed the jurisdiction of SDIF trustees in the ownership and control of Koza Ltd, a UK-based private company wholly owned by Koza Altin, the publicly-listed Turkish conglomerate that Ipek used to head as CEO.

Ipek also lost a lawsuit, worth $6 billion, which he filed at the International Centre for Settlement of Investment Disputes (ICSID) in London.