State fund takes the reins in arrested influencers’ companies

ISTANBUL

In a move to avoid victimizing third-parties, operations and product sales in the companies of arrested social media influencers continue, which are now overseen by the Savings Deposit Insurance Fund (SDIF).

The SDIF is managing 39 companies previously owned by social media influencers as a trustee to ensure that their employees do not lose their jobs and that public debts and third-party receivables are paid.

The trustee committee has started to pay the salaries of approximately 500 employees, including monthly tax and SSI debts. The payments related to the receivables of the service providers are also being organized.

Social media influencers were in the spotlight over allegations of money laundering and tax evasion, following a series of investigations and arrests of high-profile figures.

The courts appointed SDIF as trustee in 27 companies of Dilan-Engin Polat Group, three companies of Başar Group, two companies of Tayyar Group, two companies of Özkan Group and five companies of other influencers.

With beauty centers among the 27 companies of the Dilan-Engin Polat group, more than 100 franchises will also continue to provide trouble-free service. A certain portion of the beauty product sales in Polat Group were made through e-commerce platforms. The sale of these products are resuming.

The SDIF is expected to prioritize the continuation of the operations of these companies. The new managers assigned by the SDIF are working to ensure that there is no disruption in the orders of real customers and that revenues do not decrease. The sale of profitable companies may await the completion of the legal process.