Istanbul Chief Prosecutor Freezes Assets of Three Pasifik Holding Executives

The Istanbul Chief Prosecutor's Office has imposed asset freezing measures on Pasifik Holding Board Chairman Fatih Erdoğan, Board Vice Chairman Abdulkerim Fırat, and Board Member Mehmet Erdoğan as part of its fund investigation into capital markets.

In a memorandum sent by the Chief Prosecutor's Office to relevant institutions, it was stated that the three individuals have been placed under a notification obligation for all types of transactions that reduce their asset base, including transfers, assignments, sales, donations, mortgages, pledges, account closures, large-scale cash withdrawals, and large-scale EFT transfers and wire transfers. If an extraordinary transaction request is made, the prosecutor's office must be consulted before the transaction is executed.

The memorandum requested that routine transactions such as salaries, invoice payments, and institutional payments not be blocked, while suspicious transactions that could be assessed as asset-reducing or fraudulent must be reported without delay.

The Banking Association of Turkey, the Participation Banks Association of Turkey, and the Union of Turkish Notaries were asked to notify the memorandum to all member banks and notary offices. The Chief Prosecutor's Office also requested the freezing of the three suspects' capital market instruments and that transactions reducing their asset base be reported to the Financial Crimes Investigation Board (MASAK) under the Law on Prevention of Laundering of Proceeds of Crime. The information was conveyed to Ekonomim.