As part of the investigation into the Gülenist Terror Group (FETÖ), 50 suspects were detained, including Akfa Holding Chairman Fatih Aktaş, in raids conducted on Akfa Holding, its 51 subsidiaries and Yeni Mağazacılık A.Ş (A-101) on allegations of providing financial support to the terror cult.
Istanbul's Anatolia Chief Public Prosecutor's Office issued arrest warrants for 120 suspects, including company executives, as a part of the investigation into Akfa Holding, its 51 subsidiaries and Yeni Mağazacılık A.Ş (A-101) with the allegations of providing financial support to FETÖ.
On the prosecutor office's order, the Istanbul Police Department's Financial Crimes Unit conducted search and seizure operations at Akfa Holding, its 51 subsidiaries and A-101 chain stores.
While 50 people, including Aktaş, were detained in the operation, seven suspects are reported to be abroad. The operation has been ongoing during the day for the arrest of 63 other suspects.
In the investigation into Akfa Holding, the Financial Crimes Investigation Board's (MASAK) assessments suggest that A-101 chain stores have links to the holding and that is why it was included on the list of companies under investigation.
Akfa Holding was accused of remitting $40 million worth of benevolence payments collected between 2011 and 2015 to foundations and institutions such as the U.S.-based Bosporus Atlantic Association of Cultural Cooperation and Friendship, Canadian-Turkish Friendship Association, Colegios De Education, Mediterraneo SL, Metropolitan Education, Brooklyn Amitiy School, The Respect İnstitute Inc. and Wistom School through Bank Asya, which was seized by the government banking watchdog in May 2015. Bank Asya had sold its shares in A-101 in April 2014. The supermarket chain has over 1,600 branches in Turkey and has capital of TL 104 million ($35.5 million).