Koza İpek Holding CEO Akın İpek, whose companies were seized after a politically-motivated court decision in October, has repeated his call for local auditors to conduct a fair investigation of an alleged lack of transparency in the holding's business conduct.
“Investors in Koza continue to sustain huge losses. … I call on the SPK [Turkey's Capital Markets Board] to inform us if the holding's financial activities abide by the law or not,” İpek said on his Twitter account on Wednesday. On Oct. 26, the Ankara Chief Public Prosecutor's Office ordered Koza İpek Holding to be placed under the management of a trustee panel while an investigation continues looking into alleged financial and management wrongdoings. İpek said he is ready to “give away the holding shares as a gift” should the authorities prove any misconduct within Koza. The holding subsidiaries are listed on the Borsa İstanbul (BİST).
Prior to its seizure, companies belonging to Koza İpek Holding were initially raided on Sept. 9 by police seeking financial documents after a court issued a search warrant. The Finance Ministry's Financial Crimes Investigation Board (MASAK), which conducted the raids, failed to find any illegal activities or transactions after thoroughly investigating the holding's files and records.
Published on Today's Zaman, 2 December 2015, Wednesday