High-Stakes Fraud Scandal Rocking Turkish Soccer Stars

Turkish prosecutors have filed an indictment against Denizbank CEO Hakan Ates, seeking a prison sentence of up to 240 years for alleged fraud involving soccer stars. The case stems from a scheme allegedly perpetrated by a former bank manager. Denizbank has denied involvement, and no arrests have been made yet.

In a high-profile move, Turkish prosecutors have issued an indictment targeting Denizbank's chief executive, Hakan Ates, with a possible 240-year prison sentence. The indictment accuses Ates of playing a part in a fraudulent scheme that defrauded well-known soccer players, a revelation reported by the state-owned Anadolu news agency.

This continues from a previously opened case involving accusations against a former Denizbank manager. The bank has publicly denied any wrongdoing. Despite the indictment making headlines, no arrests have been recorded, nor have court appearances been scheduled.

Allegations suggest that ex-manager Secil Erzan orchestrated a scam swindling $44 million from numerous investors, including top soccer stars. Claiming insider investments from figures like former Turkish national team coach Fatih Terim, the scheme promised lucrative returns. While Erzan remains jailed, the wider indictment now involves 24 complainants.

(With inputs from agencies.)