EUROPEAN BANK OF RECONSTRUCTION AND DEVELOPMENT OPPOSES APPOINTMENT OF CONVICTED TURKISH BANKER AS HEAD OF ISTANBUL STOCK EXCHANGE – WHILE BANK FACES NEW CHARGES IN US

On 23rd October, KYC 360 reported that the EBRD claims that it now has the right to exit its 10% stake in Borsa Istanbul.  Mehmet Hakan Atilla, the ex-deputy chief executive officer of state-owned Halkbank, was convicted by a New York court in early 2018 for helping Iran evade economic sanctions on billions of dollars of oil revenue.  He served 28 months but received a hero’s welcome from government officials on his release.

Meanwhile, on 22nd October, Out-Law published an article saying that the FBI has charged Halkbank with fraud, money laundering, and sanctions offences related to the bank’s participation in an alleged multibillion-dollar scheme to evade US sanctions on Iran.

https://www.riskscreen.com/kyc360/news/convicted-bankers-appointment-at-turkey-bourse-opposed-by-ebrd/

https://www.pinsentmasons.com/out-law/news/us-charges-turkish-bank-over-allegations-of-sanction-evasion

This blog is primarily for my own use, to keep informed and up to date. However, if you would like to say thank you (and perhaps help me get a new, better laptop when I am away…) you can “buy me a coffee” at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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