Page 64 - TURKRptDec19
P. 64
Mar/2017
Halkbank deputy GM Mehmet Hakan Atilla arrested in US during Halkbank roadshow
US charges Aslan and then-Economy Minister Zafer Caglayan. Caglayan is still in Turkey but Aslan can't be found
US media suggest Erdogan tried to swap detained American Pastor Andrew Brunson for Zarrab
Zarrab turns state's evidence. He becomes a star witness in ‘The US vs Atilla’ case
Zarrab tells the court that he was told in 2012 by Caglayan that then-PM Erdogan had instructed Turkish banks to participate in the multi-billion dollar scheme. Judge Berman, however, does not dig into the Erdogan issue
A day after Zarrab testifies in court, Erdogan seizes his assets and those of his family in Turkey
Zarrab explains the sanctions evasion scheme in detail during the court hearings
Atilla returns to Turkey after serving his US prison sentence
In a phone call Trump informs Erdogan that US troops will not stand in the way of a Turkish attack on SyrianKurdswhowereabigUSallyinthefightagainstIslamicState
There is bipartisan fury in the US establishment directed at Trump for letting Erdogan attack the Kurds in Syria
Bloomberg reports that Trump in 2017 urged his then-Secretary of State Rex Tillerson to persuade the DepartmentofJusticetodropitscaseagainstZarrab.Tillersonsaiditwouldbeinappropriate
Trump imposes 'fake sanctions' (light sanctions that amount to almost nothing consequential) on Turkey to quellthebipartisanfury
BeratAlbayrakcancelsUStriptoattendIMF-WorldBankmeetings
US prosecutors files long-awaited 'the US vs Halkbank' indictment regarding the illicit movement of around $20bninIranianoilrevenuethroughtheUSfinancialsystembetween2012and2016.
The indictment includes a reference to the participation of a “relative of the then-Prime Minister [Erdogan] whoheldmultipleTurkishcabinetpositions”.Obviously,thenenergyministerAlbayrak.
Bloomberg reports Erdogan made repeated requests to Trump to avoid charges against Halkbank. Trump assigned Mnuchin and Attorney General William Barr to look into the issue after an April phone call with Erdogan.
Short-sales ban imposed for Halkbank, Akbank, Garanti, Halkbank, Isbank TSKB, Vakifbank and Yapi Kredi Bank shares. Borsa Istanbul also introduces a depositary restriction to restrict investors to only selling their holdings in the seven banks in question on receiving the shares two days after their purchase. It also introduces a requirement that shares in the banks only be sold via the brokerage houses holding the shares.
“Despite the fact that the Bank's ongoing discussions with the US Department of Justice to resolve this matter without indictment have not yet come to a conclusion, this [indictment] was filed as part of the sanctions introduced against our country by the US government in response to Operation Peace Spring, heroically launched by the Turkish Army to secure our borders and establish peace in the region,” Halkbank saidonOctober16inastockexchangefiling
CentralbankgovernorMuratUysal,aformerHalkbankofficial,cancelsUStripfollowingAlbayrak Moody'splacesHalkbankonreviewforadowngrade(B3)
Halkbank’s US lawyer says in a court filing that he is not authorised to accept summons or to appear in courtonbehalfofthebank
Son-in-lawAlbayrakappointsAtillaasthedirectorgeneralofBorsaIstanbul FitchmovesHalkbanktoRatingWatchNegative(B+)
At a press conference held to announce the latest of consecutive loan packages by state lenders to stimulate the economy, Hasan Tuncay, a deputy general manager of Halkbank, and Muhammet Lutfu Celebi, a deputy general manager of Vakifbank, say they have put profitability aside this year to support the economicrecovery.
BorsaIstanbulremovesthedepositaryandbrokeragerestrictionsbuttheshort-salesbanremainseffective EBRDofficial,a10%shareholderinBorsaIstanbul,complainsabouttheappointmentofAtilla
Sep/2017 Nov/2017
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10/6/2019 10/6-18/2019
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64 TURKEY Country Report December 2019 www.intellinews.com
