Turkish state appoints trustees to Aydınlı Group, baklava chain Faruk Güllüoğlu

ISTANBUL

The Saving Deposit Insurance Fund (TMSF) has appointed a panel of trustees to the Aydınlı Group textile company and the dessert chain Faruk Güllüoğlu after their chairmen were arrested in September 2016 over alleged links to the Gülenist network.

A total of 27 businessmen, including Aydınlı Group Chairman Ömer Faruk Kavurmacı and Faruk Güllü, one of the three brothers who run separate Güllüoğlu baklava chains, were arrested on charges of being members of the network that is widely believed to have orchestrated Turkey’s July 2016 coup attempt. 

Another 52 suspects, including Nejat Güllü, another brother who runs a Güllüoğlu baklava chain, were released on probation in the same probe. 

The Aydınlı Group is the owner of the brand rights of Pierre Cardin, Cacharel, and U.S. Polo in Turkey, as well as a number of other countries. Its 2015 endorsement valued 2.7 billion Turkish Liras.  

The seizure of the companies by the TMSF comes after the Turkish government’s state of emergence decree law issued in November 2016. 

“All authorities of the trustee panels, which were appointed to companies due to their junctions or links with terror organizations, will end as of today. The emergency decree herein will be published without any need for a judge’s or court decision,” the emergency decree stated.

Some 527 companies have been transferred to the TMSF since the July 2016 coup attempt, according to Deputy Prime Minister Nurettin Canikli.