Istanbul Chief Prosecutor Freezes Assets of Pacific Holding Partners

The Istanbul Chief Prosecutor's Office has imposed asset restrictions on Pacific Holding Board Chairman Fatih Erdoğan, Board Vice Chairman Abdülkerim Fırat, and Board Member Mehmet Erdoğan as part of an investigation into suspected stock market manipulation and money laundering. According to a prosecutor's statement relayed by Anadolu Agency, instruments in the capital market accounts of the three individuals have been frozen by relevant institutions.

The prosecutor's office stated that the individuals in question are now subject to notification obligations for any transactions that would reduce their assets, including transfers, assignments, sales, mortgages, and large cash withdrawals. Should any extraordinary transaction request be made, prior authorization from the prosecutor's office is now mandatory. The prosecutor's office also requested immediate notification to MASAK.

Fatih Erdoğan is the spouse of AKP Ankara Deputy Asuman Erdoğan. Previous asset restriction orders had been issued against Pacific Holding but were later lifted; the holding is known for its involvement in TOKI and Real Estate and Housing Credit Company tenders.

Of the four suspects referred to Istanbul Courthouse in Çağlayan, Hakan Gövdere and Rıza Kandemir were remanded in custody; Elif Özüş and Elif Değerli were released on judicial control conditions.