The Savings Deposit Insurance Fund (TMSF) announced that it has taken over Boydak Holding, one of the largest conglomerates in Turkey.

Boydak Holding is active in a number of sectors, including energy, furniture and banking with 38 subsidiary companies. According to its website, it has an annual turnover of more than TL 6 billion ($2 billion) and employs over 13,000 people.

The company had reportedly alleged ties with the Gulen Movement, which has been accused by the Turkish gov’t of orchestrating the failed coup attempt of July 15.