The Istanbul chief public prosecutor's office on March 14 seized 23 companies as part of a prosecution aimed at illegal sports betting, Turkish news agency DHA reported.

Under the scope of the operation, the police have launched raids targeting 59 suspects and seized Turkish lira (TRY) 6.9bn ($188.1mn) worth of assets.

Seventeen homes, nine land plots, one office and 13 vehicles, along with bank accounts and cryptocurrency wallets, are among the seized assets.

Erkan Kork, the owner of the companies in question, was, meanwhile, detained. He faces allegations of leading an illegal sports betting gang. Kork’s Bankpozitif, Flash TV and Payfix are among the seized companies.

Fintech foray

Kork launched his first finance company, Troyin Bilisim, in 2014. Later on, he launched Capital Turk Holding, Aypara Odeme Kurulusu and Ininal Odeme Hizmetleri.

Payfix and Aypara are among 26 active payment institutions in Turkey, while Ininal is among 63 active electronic money institutions in the country.

Bankpozitif acquired

In 2023, Kork acquired Bankpozitif from Israel’s Bank Hapoalim (Tel Aviv/POLI).

At end-September, Bankpozitif was the 47th largest bank (of 54 banks) in Turkey, with $44mn of assets. It has a single branch.

Why go after Kork?

In December, Cafer Mahiroglu, owner of Halk TV, announced that he had bought Flash TV. Later on, the deal was cancelled and Kork bought the TV channel.

Kork hired pro-government trolls to work at Flash TV. Why he has been targeted by prosecutors remains a mystery to observers. It looks like the case is not political.

If in Turkey criminals’ assets were seized in line with the principle of equality before the law, no exceptions could be made for figures in Turkey’s government and surrounding circles.

The gangs that form much of the Erdogan regime regularly indulge in scrapes, seeking the approval of the president, Recep Tayyip Erdogan. The objective is to pocket rival gangs’ assets. It appears that some rival gangs are currently looking to take over riches of the gangs represented by Kork.

Kork is active in highly regulated industries that require licences. For someone who is not plugged into the circles surrounding the regime, it is not possible to access such licences.

New wave

In February, Turkey’s deposit insurance fund TMSF was appointed as a trustee at fast food chain Maydanoz Doner in relation to a prosecution aimed at Gulenists (it is the Gulenists whom Erdogan blames for the July 2016 failed attempt at toppling him by staging a coup).

In July, Fatin Rustu Karakas, head of the TMSF, said that TMSF had seized 1,371 companies over links to the Gulenist clan since the military coup attempt.

Since 2002, Turkey’s government has used the TMSF as a tool for wealth transfer.

As of March 12, the TMSF had established management over 696 companies. Additionally, it controlled stakes in 73 companies as well as the personal assets of 93 real persons as of end-2024.

Five of the companies are currently on sale.

In 2024, TMSF sold a Bosphorus mansion owned by Gulenist businessman Akin Ipek to Oyak Cimento (OYAKC) for a consideration of TRY 1.1bn ($34mn).

Municipalities also seized

Since the last local elections, held in March 2024, 12 municipalities have been seized by the government. Ten were held by the main Kurdish party DEM, while two were held by the main opposition Republican People’s Party (CHP).

(See the full list here.)

The government has also arrested the CHP mayors of Besiktas and Beykoz districts in Istanbul. However, in relation to the arrests, it did not seize the municipalities concerned.

The district parliament in Besiktas elected a new mayor in line with Turkish laws. The Beykoz mayor was dismissed on March 4, but the interior ministry has not appointed a trustee. It looks like the Besiktas model will be followed there.

Some reasons are provided for each arrest or seizure of municipalities. But, the decisions are seen by Turkey analyst as political and taken by Erdogan.

DHKP-C, a new phenomenon

In addition to seizing municipalities and arresting mayors, the government has lately been arresting lower-rank politicians in Istanbul.

Kurdish politicians, who were elected to city or district parliaments via the CHP’s lists or who were employed by CHP municipalities under an election alliance established by Istanbul Mayor Ekrem Imamoglu and the DEM, have been arrested over links to the Kurdistan Workers’ Party (PKK), designated terrorist by the government.

On March 12, the Istanbul chief public prosecutor's office arrested 34 people, including municipal officials in Istanbul's districts, over claims that they financed the Revolutionary People's Liberation Army-Front (DHKP-C), a terrorist organisation active in Turkey.

In 2024, Akin Gurlek was appointed as chief public prosecutor in Istanbul. Journalists, who claim that Gurlek’s job is to conduct operations against Imamoglu, currently seen as a politician that could one day succeed Erdogan, are arrested.

DHKP-C is viewed as controlled by levers within the Turkish state. From time to time, it does freelance jobs. That's always the case when it comes to such proxies.

The regime, made up of Erdogan’s Justice and Development Party (AKP) and the Nationalist Movement Party (MHP), has lately been reviving their relations with the PKK.

It seems that coalition talks are progressing and DHKP-C has become the new PKK when it comes to the crackdown in Istanbul. 

The regime was previously seen as working with the PKK in the second elections held for Istanbul in 2019 as well as between 2012 and June 2015.

Where terrorism was concerned, the DHKP-C would take care of the tea service or polish the shoes of its big brothers.

The PKK is actually designated as a terrorist organisation by half of the planet. The MHP is the political party of Operation Gladio in Turkey. The AKP-backed jihadists, now forming the emerging administration in Damascus, slaughtered some more Alevis (ak Alawites, or Alawis) in Syria last week.

Will Erdogan jail Imamoglu?

This remains an open question. In the current local government cycle, the seizures of CHP municipalities are a new phenomenon. The real target of course is Imamoglu. Erdogan sees him as a real threat. Whether he will move to jail Imamoglu or ban him from politics is under scrutiny.

Perhaps, even Erdogan is not sure as yet what his end-game will be. It will depend on many factors, domestic and international.

On March 23, the CHP is planning to announce Imamoglu as its candidate for the presidency.

Kurdish question

In January, Human Rights Watch (HRW) wrote in the Turkey section of its World Report 2025 that the negotiating process with PKK leader Abdullah Ocalan had not addressed the rights deficit in Turkey endured by the Kurds.

Syria is being discussed. Erdogan is supposed to recognise the Kurdish entity in the north. A story is being developed to provide Erdogan with the required space for his move.

He has indirectly done the job. Recently, the head of Erdogan’s jihadists in Syria and the head of the Kurds in the country, who is also Ocalan’s foster child, posed together.

Trump to rule

Donald Trump has yet to disclose his plans regarding the region. ​​Since Hamas launched its kamikaze strike against Israel on October 7, 2023, Iran has lost its influence in the Palestinian territories, Lebanon and Syria.

Currently, the only threat against Israel remaining in the region is Iran, which only has a presence left in Yemen and Iraq. Trump is already moving to cut Iraq’s ties with Iran.

Perhaps, it would be no surprise if Israel 'solves' its last problem during Trump’s current term.

All of the US proxies, including Turks and Kurds, served in harmony during the Iraq and Syria operations. They remain on the same path.