Investigation into Can Holding

Küçükçekmece Public Prosecutor’s Office has alleged that a criminal organization was established through companies under Can Holding, and that crimes including “qualified fraud,” “tax evasion,” and “money laundering” were committed through this structure. The investigation, initiated based on reports from the Financial Crimes Investigation Board (MASAK) and financial audit units, has resulted in the seizure of 121 companies affiliated with the holding as of September 11, 2025, and the appointment of the Savings Deposit Insurance Fund (TMSF) as receiver.

The investigation was launched based on reports from the Financial Crimes Investigation Board (MASAK) and financial audit units. These reports identified numerous unexplained large cash inflows into companies operating under Can Holding, with these amounts allegedly being circulated among group companies through internal transfers in an attempt to obscure their origins. It is claimed that tax obligations were deliberately reduced through invoice-free transactions and the fabrication of documents.

It is alleged that a structure was created under the holding for profit-seeking purposes, and that multifaceted actions were undertaken to launder income derived from precursor crimes such as qualified fraud, smuggling, and violations of the Tax Procedure Law.

It has been indicated that cash capital increases were carried out in companies with no commercial activity, with the source of these increases falsely recorded as “debts to partners,” despite these debts not reflecting reality. The amounts listed under this category are said to have been treated as if they had been reinvested into the companies under Law No. 7256 on Asset Peace. According to assessments, these practices were designed to improperly integrate and launder income derived from crime, contrary to the purpose of the law.

Authorities allege that multiple companies were established within the holding operating in the same sectors, and frequent changes were made to their boards of directors, in order to complicate oversight and monitoring mechanisms. Responsibility was allegedly distributed among organization members to avoid legal consequences.

Financial flows are said to have been directed toward acquisitions, share transfers, and investments in strategic sectors such as media, education, finance, and energy, with the aim of expanding commercial scale and cultivating an appearance of legitimacy and public credibility. These comprehensive findings provided the basis for requesting protective measures over company shares and assets, and for appointing the TMSF as receiver.

As part of the investigation, a decision was made to seize 121 companies operating under Can Holding. This decision was taken upon the request of the Küçükçekmece Public Prosecutor’s Office, based on MASAK and financial audit reports contained in the investigation file. The seizure was carried out to prevent the laundering of income deemed to have been derived from crime, to preserve existing assets, and to prevent potential future damages.

All seized companies were transferred to the Savings Deposit Insurance Fund (TMSF), which was appointed as receiver for these entities. In a statement, the TMSF affirmed that employees’ rights at the seized companies would be protected, operations would continue without interruption, and the claims of third parties would be duly considered.

^{Can Holding Binası - (}Anadolu Ajansı⁾

Among the seized companies are media sector entities such as Habertürk Gazetecilik, Show TV, Ciner Medya, and Bosphorus Media Group; educational institutions including Doğa Schools; various companies active in energy and finance; and significant organizations such as Turktobacco. This demonstrates that the investigation constitutes a broad intervention with social and sectoral impacts beyond its financial dimensions.

With the TMSF assuming control as receiver, it has been stated that the financial structures and corporate governance processes of the companies will be reorganized according to principles of transparency and accountability. The aim is to ensure that the seized companies can continue their operations without undermining public confidence.

The Küçükçekmece Public Prosecutor’s Office issued detention orders against 10 individuals as part of the investigation. Four of these individuals have been apprehended. Among those detained are names closely linked to Can Holding, including Kemal Can, Mehmet Şakir Can, and Kenan Tekdağ.

Prosecution sources have stated that substantial evidence has been obtained indicating that the suspects acted with the intent to establish a criminal organization and commit crimes of qualified fraud, tax evasion, and money laundering. Key activities attributed to the suspects include intercompany fund transfers, invoice-free transactions, unauthorized capital increases, and the use of forged documents.

Arrest warrants have also been issued for the remaining suspects who have not yet been apprehended, and security units are continuing their operations. It is assessed that the number of suspects may increase in the coming stages of the investigation.

During the investigation, public institutions issued several statements. The Savings Deposit Insurance Fund (TMSF) announced that operations at the seized companies would not be interrupted, employees’ rights would be protected, and third-party creditors’ claims would be respected.

The Ministry of National Education emphasized that educational activities at Doğa Schools would continue without disruption and that no disadvantage would be suffered by students or parents.

The Council of Higher Education (YÖK) stated that there was no adverse situation at Istanbul Bilgi University and that academic activities were proceeding normally.

As part of the investigation into Can Holding and its affiliated companies, five of the six suspects detained in Istanbul were ordered to be remanded in custody by the On-Duty Peace Criminal Court. Arrest warrants were issued for Devran Çimen, Devran Can, Mehmet Kaya, Kemal Çimen, and Cemal Can. Regarding M. Kenan Tekdağ, Chairman of the Board of Can Yayın Holding, judicial supervision measures of “non-leaving residence” and “ban on leaving the country” were applied, and he was released. The investigation is being conducted by the Küçükçekmece Public Prosecutor’s Office; the suspects are charged with “establishing a criminal organization,” “tax evasion,” “fraud,” and “money laundering”; and detention operations were carried out by the Istanbul Gendarmerie Command.

As part of the judicial investigation conducted by the Küçükçekmece Chief Public Prosecutor’s Office, it was alleged that a criminal organization was established through companies within Can Holding, and that this structure was used to commit crimes such as “aggravated fraud,” “tax evasion,” and “money laundering.”

The investigation was initiated based on reports from the Financial Crimes Investigation Board (MASAK) and audits prepared by financial oversight units. As of September 11, 2025, 121 companies affiliated with the holding were seized, and the Savings Deposit Insurance Fund (TMSF) was appointed as trustee.

The probe was launched following MASAK reports and audit findings that revealed significant unexplained cash inflows into many companies under Can Holding. These amounts were allegedly circulated between affiliated companies through intra-group transfers to obscure their origin. According to the claims, unrecorded transactions and falsified documents were used to reduce tax liabilities.

It was further alleged that a profit-driven structure was formed under the holding, enabling multi-layered actions aimed at laundering income derived from predicate offenses such as fraud, smuggling, and violations of the Tax Procedure Law. In this process, cash capital increases were recorded in companies without actual commercial activity, showing “debts to partners” as the source.

These debts were deemed fictitious, and the amounts in this category were treated as if reinvested under Law No. 7256 on Asset Peace. Authorities argued that such practices were contrary to the law’s intent and effectively amounted to laundering proceeds of crime.

Investigators claimed that frequent changes in company boards and the establishment of multiple entities in the same sectors were intended to hinder oversight and distribute responsibility among organization members to evade legal sanctions. Financial flows were directed toward company acquisitions, share transfers, and investments in strategic sectors such as media, education, finance, and energy. This was allegedly intended not only to expand commercial capacity but also to create a perception of legitimacy and credibility. These findings provided the grounds for protective measures over assets and for TMSF’s appointment as trustee.

A decision was made to seize 121 companies within Can Holding. The ruling, based on MASAK and financial audit reports, was issued at the request of the Küçükçekmece Chief Public Prosecutor’s Office. The purpose was to prevent the laundering of illicit funds through these companies, safeguard existing assets, and avert potential damages.

^{Headquarters of Can Holding - (}Anadolu Agency⁾

All seized companies were transferred to the TMSF, which was appointed as trustee. TMSF stated that employees’ rights would be protected, business activities would continue uninterrupted, and creditors’ interests would be observed. Among the seized entities were Habertürk Gazetecilik, Show TV, Ciner Media, Bosphorus Media Group (media sector); Doğa Schools (education); various companies in energy and finance; and significant enterprises such as Turktobacco. This highlighted the broad scope of the intervention, with not only financial but also social and sectoral repercussions.

TMSF emphasized that with its role as trustee, companies’ financial structures and governance processes would be reorganized under principles of transparency and accountability, ensuring continued operations without undermining public trust.

The investigation led to detention orders for 10 individuals, four of whom were apprehended. Those detained included Kemal Can, Mehmet Şakir Can, and Kenan Tekdağ, all reportedly linked to Can Holding.

Prosecutors stated that substantial evidence indicated suspects acted to establish a criminal organization and engage in aggravated fraud, tax evasion, and money laundering.

Notably, intercompany money transfers, unrecorded transactions, irregular capital increases, and falsified documents were among their alleged methods. Arrest warrants were issued for the other suspects who remain at large, while authorities noted the number of suspects could increase as the probe expands.

Throughout the investigation, several public institutions issued statements. TMSF reassured that seized companies would continue operations, employees’ rights would be safeguarded, and third-party creditors’ interests would be respected.

The Ministry of National Education emphasized that educational activities at Doğa Schools would continue without disruption, ensuring no harm to students or parents.

The Council of Higher Education (YÖK) announced that Istanbul Bilgi University was unaffected and academic activities were proceeding normally.

Within the scope of the investigation into Can Holding and its subsidiaries in Istanbul, six suspects were detained. Five were arrested by the Criminal Court of Peace: Devran Çimen, Devran Can, Mehmet Kaya, Kemal Çimen, and Cemal Can.

M. Kenan Tekdağ, Chairman of the Board of Can Publishing Holding, was released under judicial control with restrictions including “house arrest” and an “international travel ban.” The investigation is being carried out by the Küçükçekmece Chief Public Prosecutor’s Office. The suspects face charges of “establishing a criminal organization,” “tax evasion,” “fraud,” and “money laundering.” Detention procedures were executed by the Istanbul Gendarmerie Command.

On 17 October 2025, a coordinated second wave operation was carried out simultaneously in Istanbul, Mersin, Iğdır and İzmir provinces, based on new evidence and the MASAK report added to the investigation file, following an investigation conducted by the Istanbul Public Prosecutor’s Office. The operation, executed under the instructions of the Istanbul Provincial Gendarmerie Command’s KOM Branch Directorate and coordinated by the Public Prosecutor’s Office, resulted in the detention of 26 suspects including Arafat Bingöl, Cengiz Bingöl, Remzi Sanver, Mehmet Kenan Tekdağ, and the spouses of the owners of Can Holding, Şakir Can and Murat Can, Betül Can and Zühal Can.

During searches conducted at company headquarters and residences, numerous digital materials documents and files were seized. It was determined that three suspects were abroad, and efforts are ongoing to apprehend six fugitive suspects. The operation is being conducted under the criminal charges of “establishing and managing an organization for the purpose of committing a crime,” “becoming a member of an established organization,” “qualified fraud,” and “money laundering of assets derived from crime.”

The investigation file was transferred from the Küçükçekmece Public Prosecutor’s Office to the Istanbul Public Prosecutor’s Office due to a ruling of lack of jurisdiction. During the investigation in Istanbul, additional receivership decisions were issued concerning companies affiliated with Can Holding.

(A) Companies placed under receivership (Istanbul Public Prosecutor’s Office decision):

• Türktab Marketing Tobacco and Tobacco Products A.Ş.
• ZA Logistics and Vehicle Rental Services Trade A.Ş.
• Canpet Gas Station Operations A.Ş.
• Tares Tech Products Domestic and Foreign Trade Ltd. Co.
• Furkon Technical Hardware Industry and Foreign Trade Ltd. Co.
• Temiz Petroleum and Real Estate Trade A.Ş.
• MCN Petroleum A.Ş.
• Yön Special Education Printing and Publishing Industry Trade A.Ş.
• Mer Investment and Special Education Services A.Ş.
• Arı Science Innovation Education Services A.Ş.

(B) Expansion of Receivership – 18 Companies:

• Transworld International Transportation and Brokerage Services Trade Ltd. Co.
• Turktab Karon Tobacco Products Food Trade A.Ş.
• Turktab Tobacco Food Logistics and Trade A.Ş.
• Turktab Wholesale Tobacco Products Trade and Distribution A.Ş.
• Turktab Tobacco Food and Beverage Industry Trade and Commerce A.Ş.
• Turktab Food Tobacco and Tobacco Products Trade Import Export A.Ş.
• Turktab Global Tobacco Cigarettes and Tobacco Trade A.Ş.
• Kuranlar Petroleum Automotive Construction Food Industry Trade Ltd. Co.
• European International Tobacco Cigarettes and Tobacco Industry Trade A.Ş.
• Nargıll Tobacco Products Industry Trade A.Ş.
• Park Technical Electricity Mining Tourism Industry and Trade A.Ş.
• Park Electricity Production Mining Industry and Trade A.Ş.
• Konya Ilgın Electricity Production Industry and Trade A.Ş.
• Park Insurance Brokerage Services A.Ş.
• Ciner Tourism Trade Construction Service Services A.Ş.
• Etz Mining Energy Petroleum Industry and Trade A.Ş.
• Söğütözü Import Export and Trade A.Ş.
• Kasımpaşa Sports Activities A.Ş.

The receivership decisions were issued based on financial and commercial linkages identified during the investigation and suspicions of money laundering. The aim is to continue the operations of these companies while safeguarding public interest and protecting employees’ rights.

The investigation has identified financial and commercial links between Can Holding A.Ş. and the Ciner Group/Park Holding A.Ş., and found evidence suggesting that transactions and activities conducted through these links may have served to launder proceeds from crime. The following measures have been implemented:

• Transfer of Media Assets (Istanbul, Contract dated 22 December 2024): Can Holding A.Ş. acquired shares in entities including Ciner Medya TV Services A.Ş., Show Television Broadcasting A.Ş., Habertürk Journalism A.Ş., HT Spor Television Broadcasting A.Ş., C Visual Publications A.Ş., Kanal 1 Visual Television Production A.Ş., CİNER Digital Broadcasting Services A.Ş., Boğaziçi Radio and Television Broadcasting A.Ş., and C Production Film Production A.Ş. through share purchases and sales. These transfers are being examined in the investigation under suspicion of “money laundering of assets derived from crime.”

• Arrests and Judicial Proceedings (Istanbul): An arrest warrant has been issued for Turgay Ciner, who was determined to be abroad. The Turkish Mediation and Asset Management Fund (TMSF) has been appointed as receiver for companies affiliated with Park Holding A.Ş., including AFC Import Export Tourism A.Ş., Zeyfa Import Export A.Ş., and Silopi Electricity Production A.Ş., pursuant to a decision by the 4th Istanbul Peace Criminal Court.

• Detentions and Judicial Controls (Istanbul): Atilla Ciner and Gökhan Şen, Chairman of the Executive Board of Ciner Glass UK, have been detained. Judicial measures including travel bans have been imposed on Gürsel Usta, Orhan Yüksel, Selçuk Yeşiltaş, Çiğdem Yılmaz, Yalçın Tahiroğlu, İsmail Karakuzu, Ömer Çatal, Hacı Mustafa Kıraç, Kemal Gürsel Özyar and Timur Haşhaş.

• Can Holding Side (Istanbul):
• Kemal Can has been detained on charges of “establishing and managing an organization for the purpose of committing a crime” and “concealing the illicit origin of asset values.” Measures including “prohibition of leaving residence (house arrest)” and “travel ban” have been applied to Mehmet Kenan Tekdağ.