A U.S. appeals court ruled on Friday that Halkbank, a public lender majority-owned by Turkey’s sovereign wealth fund, can appeal to the U.S. Supreme Court without having to defend itself in a Manhattan...
A U.S. appeals court ruled on October 22 that Halkbank, a public lender majority-owned by Turkey’s sovereign wealth fund, cannot claim sovereign immunity under U.S. law to scuttle a federal criminal case...
This designation shows yet again that NATO member Turkey continues to offer a permissive jurisdiction for terror finance, sanctions evasion, and money laundering under the 19-year rule of President Recep Tayyip Erdogan’s Islamist-rooted Justice and Development Party.
The Financial Action Task Force (FATF), the Paris-based global money laundering and terror financing watchdog, added Turkey to its “grey list” on Thursday, placing Ankara alongside 22 other jurisdictions,...
Germany’s financial regulatory authority on August 26 announced a series of punitive measures against an unnamed financial institution that journalists have identified as Ziraat Bank International AG,...
The U.S. Department of Commerce’s Bureau of Industry and Security on May 5 announced it would deny export privileges to Mehmet Hakan Atilla, the former deputy general manager of Halkbank, Turkey’s second-largest...
Late April Trends
Halkbank, a public lender majority-owned by Turkey’s sovereign wealth fund, claimed on April 12 before a U.S. court that the bank is immune from charges U.S. prosecutors brought in October 2019, which...
Turkey’s currency is in free fall. International investors are fleeing the country. Accusations of bribery and support for terrorism abound. And something clearly is rotten at the heart of the Turkish...
Irregularities Point to Erdoğan’s Manipulation of Financial System to Consolidate Power
As ordinary citizens seek to preserve their wealth, President Recep Erdogan’s Justice and Development Party is finding new ways to take advantage of the gold rush.
In a recent exit interview with Defense One, Ambassador James F. Jeffrey, the outgoing special representative for Syria engagement, asserted that President Recep Tayyip Erdogan of Turkey poses challenges...
After being protected by Donald Trump, Turkish President Recep Tayyip Erdogan could soon face US sanctions and political pushback from Joe Biden’s administration that would sour Ankara-Washington relations.
Turkish banks are taking a beating in American courts. First, a federal judge in the Southern District of New York (SDNY) refused to dismiss an indictment accusing Halkbank, majority-owned by the Turkish...
A Manhattan federal judge on October 1 refused to dismiss an indictment accusing Halkbank, a public lender majority-owned by the Turkish government, of helping Iran evade U.S. sanctions. In the event of...
Iran’s sanctions-evasion schemes involving Turkey “started earlier, lasted longer, extended further, and involved more people and countries” than previously known, according to a series of deeply...
The president offered to help Turkey’s strongman beat U.S. courts, John Bolton has revealed. It only helps Iran.
Turkish President Recep Tayyip Erdogan on May 12 asked the central executive committee of his Justice and Development Party to speed up plans for the government to take over a 28 percent stake in Isbank,...