Turkey has seized 885 businesses since 2016 coup attempt - Dünya

Turkey has seized and transferred the assets 885 businesses to Turkey’s Savings Deposit Insurance Fund (TMSF) since the failed coup attempt in 2016, business news site Dünya said on Monday.

Turkey’s government accuses the Gülen movement of carrying out a coup attempt in 2016 and launched a crackdown against the movement’s suspected members in Turkey and abroad following the failed putsch.

During the state of emergency called in the aftermath of a coup attempt, businesses with suspected links to the Gülen movement were seized and put under the administration of the TMSF.

The 885 companies are spread across 38 of Turkey’s 81 provinces, and hold assets worth a combined total of 58.98 billion lira ($10.32 billion), according to Dünya. The businesses have a combined annual turnover of 7.93 billion lira ($1.39 billion) and profit worth 0.98 billion lira ($170 million).

Almost 44,500 are employed in the companies, Dünya said.