A ‘smurfy’ mix-up: Prosecutor confuses money laundering scheme with Ankara neighborhood

An Ankara prosecutor who asked the Ankara Fifth Court of Criminal Peace to appoint a trustee board to take over the management of Koza ipek Holding has apparently mistaken a money laundering scheme referred to as the Smurfs Village method for an actual neighborhood in Turkeyand’s capital where some of the holdingand’s subsidiaries are supposedly based.
The prosecutor based his request on an expert report, which alleged that there were findings suggesting that Koza ipek Holding were involved in and”smurfing,and” a money laundering term that derives from the blue, little cartoon creatures, the Smurfs, living in the Smurfs Village.
The method involves money laundering through smaller transactions that are carried out through several agents, or smurfs, which means a financial institution is not required to file a report on the transaction with a government agency.
However, the seemingly confused prosecutor refers to Smurfs Village as a location in Ankaraand’s Yenimahalle district. It says the holdingand’s companies are mostly located at the same address, and that those which are not at that address are located in iirinler KandOyandu (Smurfs Village) in Yenimahalle.
Police teams entered Koza ipek Holdingand’s headquarters in Ankara and the ipek Media Groupand’s offices — which house four media outlets owned by the holding — in Istanbul after a widely criticized court decision to appoint a board of trustees to take over the management of the holdingand’s 22 companies.
The expert report that was prepared after several raids and inspections of the holding companies throughout the past months also raised eyebrows immediately after it became public, as it argued that the accounts of the holding companies were so impeccable that it was likely they concealed wrongdoings.
and”In countries which have fragile economic conditions such as Turkey, it is not compatible with financial, technical and commercial realities that corporate structures, in which high amounts of money are exchanged, have no flaws,and” the report reads. and”A perfect corporation, accounting system and financial structure does not exist in anywhere in the world. However the suspected corporation has drawn a perfect picture in the obtained official documents about the relevant individuals or the corporations.and”

SOURCE: TODAY’S ZAMAN