Home / Economy / Turkish Government seized ~$13bn worth of assets of Gulenists: report to Turkish NSC

Turkish Government seized ~$13bn worth of assets of Gulenists: report to Turkish NSC

According to a report presented to the council of national security, the financial branch of Gulen Group, or the Turkish Government calls “FETO” (the Fethullaist terrorist organization) has been shut down. Total of 48.5 billion Turkish lira (~$13bn) worth of assets, in which 7.5bn Turkish lira worth of real estate and corporate property (41bn Turkish lira) have been expropriated by the Turkish state, reported by Russian news agency Sputnik’s Turkish service. 

966 firms whose control was already taken over by the state, have gotten all their assets expropriated by the state. These assets were worth 41 billion Turkish Liras or 15 billion dollars.

The report also underlined that most of FETO’s income came from businesses in Turkey and that this income was sent abroad. The report has confirmed that this outward stream of money has been cut.

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