On Sunday (September 28), the Istanbul Chief Prosecutor’s office issued an arrest warrant for millionaire businessman Turgay Ciner, as part of an ongoing investigation launched in early September into Can Holding, a major Turkish conglomerate.

Ciner is among Turkey’s wealthiest individuals, with a net worth estimated at around 1 billion. Over the course of a 45-plus-year business career, Ciner has been active in a variety of fields such as automobile importation, textiles, aviation, logistics, and most notably media.

The Ciner Group, headed by the billionaire businessman, owned various newspapers and TV channels such as Habertürk TV, Bloomberg HT, and Showmax. In April 2025, the group was sold to Can Holding, marking the end of Ciner’s 22-year tenure in the media sector.

Ciner was reported to be traveling abroad at the time his arrest warrant was issued. The warrant alleges Ciner engaged in money laundering connected to the sale of Ciner Group to Can Holding this past spring.

Can Holding, a major Turkish conglomerate active in fields such as media, education, tourism, and logistics, had its assets seized on September 11th and placed under the trusteeship of Turkey’s Savings Deposit Insurance Fund (TMSF).

Members of opposition-linked media groups have been routinely faced with

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