A total of 965 companies with a total value of TL 41 billion [$ 11.32] billion in assets have either been transferred to Turkey’s state-run Savings Deposit Insurance Fund (TMSF), or trustees have been appointed to their management by the government since a failed coup attempt on July 15, 2016, deputy Prime Minister Nurettin Canikli said.
Meanwhile, trustees were appointed also to administer personal properties of 107 individuals, Canikli added in a written statement on Friday.
The total equity capital of the seized companies is TL18.2 billion, while their combined turnover is TL 21.9 billion, according to the TMSF report.
The number of employees in the seized companies is 46,357.
The Turkish government has been confiscating the private property of non-loyalist businesspeople without due process on unsubstantiated charges of terrorist links.
The companies are alleged to be connected to the Gülen movement, with the government coining the term “FETÖ” to designate the movement as a terrorist organization despite the lack of any court verdict to that effect.
The government accuses the movement of masterminding the failed coup attempt on July 15, 2016 even though the latter denies involvement, demanding credible evidence.
The government’s crackdown against the movement, however, is not limited to the period following the coup attempt since the managements of many organizations affiliated with the movement have already been seized by the TMSF over the course of the past three years.