The Turkish Billionaire Will Go to Prison for Frauds with Bank Credits

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The Turkish Billionaire Will Go to Prison for Frauds with Bank Credits

Turkish billionaire Mehmet Karamehmet have been sentenced to 11 years and 8 months of prison for waste of means of bank Pamukbank which belonged to him till 2002.

As informs AFP, the court recognised him guilty of inadequate use of the loans given out by bank. The sum of dissipated credits is not called, but it is known that besides sending in prison Karamehmet should pay a heavy fine — about 227 million euro.

Let’s notice that the billionaire while is under a subscription about not leaving a place. His lawyers have a possibility to appeal against a sentence.

Last year, proceeding from the data of authoritative magazine Forbes, Mehmet Karamehmet possessed the second-large condition in Turkey. He posesses holding Cukurova Group which in particular owns 14 % of actions of the largest Turkish mobile operator Turkcell.

On materials: Lenta.ru

 

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