Reza Zarrab landed on both feet in asset seizure

Following the decision of the Turkish government to seize the assets of Reza Zarrab and his acquaintances on December 1, a delegation was appointed to carry out the process of injunction
Sunday, 03 December 2017 22:38

Authorities had informed that the assets of Zarrab in Turkey would be used to compensate for the expenses of Zarrab's investments including his racehorses, airplane, houses and tenants.

However, one of the largest assets of Zarrab, Roysar Holding established in İstanbul, turned out to had already been vacated, local media reported. The security guards on duty in front of the holding said the building had been vacated immediately after Zarrab had been arrested in the US, adding "There were approximately 20 employees and all of them were dismissed. One day, they carried the computers away. No one has visited here for months. They just pay our wages."

Zarrab had moved the premises of Royal Holding after he was released from the prison following his imprisonment as part of 17-15 December corruption and bribery investigation carried out in Turkey in 2013. Zarrab had been arrested as part of the 17-15 December operations for charges of bribery to government officers. Yet he was released on February 28 as Turkey's ruling AKP government purged the investigators and prosecutors to annul the investigation. The investigation had included AKP ministers and their acquaintances.

In 2016, Zarrab changed the title of his holding to Roysar Holding. Reporters note that the phone numbers of Roysar Holding still belong to Royal Holding. There are still signboards of Royal Holding in the building although the company's name had been changed.

Zarrab's exchange bureau, Durak Exchange, also revealed to had been closed, changing hands. The exchange office was considered to had been one of the key location for the money laundering scheme Zarrab had been accused of.

Zarrab's wife Ebru Gündeş, a Turkish pop star, evaded asset seizure by means of the marriage contract she had signed which divided the assets of Zarrab and Gündeş. However, his daughter Alara Zarrab's assets are to be seized.

Zarrab has been taking the stand in the federal court in Manhattan since November 29, testifying he had paid jaw-dropping bribes to a Turkish government minister to evade the US economic sanctions against Iran.