Financial Crimes Report Fails to Find Incriminating Evidence
A crucial report by Turkey's Financial Crimes Investigation Board (MASAK), widely believed to be key evidence leading to the arrest and jailing of Istanbul Metropolitan Mayor Ekrem İmamoğlu, may contain no findings that incriminate him, according to journalist Saygı Öztürk, citing sources close to the Turkish security establishment. Öztürk revealed that an analysis of the official document by experts suggests it contradicts public perception and points towards İmamoğlu's potential innocence regarding financial misconduct allegations.
The Istanbul Chief Public Prosecutor's Office initiated the investigation, which requested a comprehensive financial analysis from MASAK on March 3, 2025 (File No. 2025/24626). The probe targeted İmamoğlu, the Spectrum House Think Tank, and associates Mahir Polat, Murat Ongun, and Resul Emrah Şahan. MASAK experts were tasked with scrutinizing an extensive range of financial activities, including all bank accounts (TL, foreign currency, gold, bonds, investments), transaction histories, credit card details, domestic and international money transfers, loans, checks, real estate holdings, and any other banking records.
Extensive Scrutiny Yields No Proof of Illicit Activity
The MASAK report, delivered to the prosecutor's office on March 17, 2025, aimed to identify assets derived from criminal activity, potential money laundering, and any links to financing terrorism, as mandated by Turkish law.
The report detailed İmamoğlu's professional background, including his insurance registration, which started in 1986, self-employment in real estate (2008-2014), and terms as Mayor of Beylikdüzü and later Istanbul (2014-2025). It also noted his significant real estate holdings, acquired through purchases (17 properties in Balıkesir, Istanbul-Beylikdüzü, Çanakkale-Bayramiç) and gifts from his father (5 properties in Balıkesir-Edremit).
Crucially, the report addressed specific intelligence-based allegations mentioned in the prosecutor's request:
- Links to Erkan Karaarslan, a consultant previously associated with Aydın Mayor Özlem Çerçioğlu (jailed for alleged FETÖ links). Allegations included consultancy payments totaling 10.3 million TL from municipalities under İmamoğlu's influence and a specific 1.75 million TL consultancy agreement between İmamoğlu (as Beylikdüzü Mayor) and Karaarslan.
- Real estate dealings with individuals (Tahir Başarır, Lütfü Ağgül, Mustafa Çobanoğlu) whose names had surfaced in separate terrorism and organized crime investigations.
However, according to Öztürk's analysis based on expert reviews, the MASAK report itself contained significant caveats and ultimately failed to substantiate these claims against İmamoğlu.
Report Highlights Lack of Evidence, Final Decision Rests with Prosecutor
Öztürk emphasizes that the MASAK report found "no data" indicating İmamoğlu's assets were sourced from criminal proceeds and made "no determination" that money laundering had occurred. Regarding the Karaarslan connection, the report merely noted the "intelligence-based information." Still, it stated that the existence of the alleged consultancy contract was "not proven," and "no record of payment related to it was found."
While the report confirmed that individuals İmamoğlu dealt with in real estate were subjects of other investigations, it found "no finding" that İmamoğlu was aware of their alleged illicit activities.
The MASAK report concluded by noting potential inaccuracies or incompleteness in the data accessed and recommended direct verification with primary source institutions. Importantly, it stated that the Istanbul Chief Public Prosecutor's Office has the "final discretion" regarding the demonstration of crime and money laundering proceeds, considering the report alongside all other evidence.
Despite these official caveats, Öztürk concludes that, contrary to widespread rumors fueling the case against İmamoğlu, the MASAK report "clearly reveals that Ekrem İmamoğlu has no financial crime," while acknowledging the ultimate legal decision remains with the prosecutor.