The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.


All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

The law’s delays, the insolence of office

Murat Demirel: his case looks set to run
and run...and run

Dozens of former bankers are on trial in Turkey for allegedly stealing $17 billion from the 20 banks that have been seized by the government since the end of the 1990s. None of the trials has ended, while some of the cases have entered their third year. If Murat Demirel's case is typical, it seems they might go on for ever.

Demirel, a scion of one of Turkey's most powerful political families, was arrested soon after Egebank, a small bank he owned, was seized in December 1999. The 34-year-old businessman is the nephew of Suleyman Demirel, who has served Turkey seven times as prime minister and once as president.

After the seizure Murat Demirel was promptly arrested and spent almost two years in custody, while he was yanked from city to city and jail to jail until he could find a court competent to try his case. At last he found himself before the Second Severe Punishment Court in Istanbul and a few days short of the second anniversary of his incarceration was released from prison.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree