Detention warrants were issued for 128 people as part of an investigation into Kaynak Holding, an Istanbul-based conglomerated the government seized in late 2015, on Wednesday morning.
An Istanbul prosecutor issued detention warrants for 128 executives at 19 companies, 1 foundation and 1 association under Kaynak Holding.
Police raided 103 locations in 7 provinces to detain the suspects on Wednesday, according to pro-government Sabah newspaper.
Sabah said 14 of the suspects have been already in jail over similar charges and 11 of them are abroad.
Kaynak Holding was seized over its links to the Gulen movement, which the government accuses of masterminding the July 15, 2016 coup attempt.
Turkey has detained more than 120,000 people including thousands of teachers and academics in its crackdown against the movement since last summer.
Meanwhile, a total of 922 companies with a total value of TL 40.8 billion [$11.46 billion] in assets have been transferred to the state-run Savings Deposit Insurance Fund (TMSF) since the coup attempt. The companies in question were mostly targeted as part of a sweeping state crackdown against the movement.