New decree to pave way for FETÖ-linked firms confiscation

Published 25.08.2016 00:00

Companies that are found to have ties to the Gülenist Terror Group (FETÖ) will be confiscated, and some others will be privatized within the framework of a new legislative decree currently being prepared.

The government is gearing up to deal a heavy blow to the financial affiliates of the terrorist group after the July 15 coup attempt.

According to the Habertürk daily, the names of the companies to be confiscated because of their affiliation to FETÖ will be published in lists in a legislative decree. Reportedly, studies of the lists have been ongoing, and prosecutor's offices have been requested to present an opinion on the issue.

The lists will be finalized in accordance with opinions provided by prosecutor's offices. They include giant companies, such as Koza İpek Holding and Kaynak Holding. The legislative decree should be published soon.

The legislative decree will prevent any problems that may emerge as a result of the confiscation of shares owned by publicly held companies. To avoid harming small stakeholders, only shares owned by FETÖ-linked bosses will be seized. Company managements will be transferred to the state, and trustees will be removed from these companies, which will be managed by the relevant state institutions. Some of them will be sold through privatization.

As part of the investigation launched into the FETÖ-linked Turkish Confederation of Businessmen and Industrialists (TUSKON), 187 businessmen were detained, and their properties seized. So far, 60 businessmen have been detained.

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