Retrial Ordered in Fraud Case Against Turkish-American Businessman Yalçın Ayaslı
- Written by Admin TOA
- Published in Businessman
A Turkish appeals court has ordered a retrial in the high-profile fraud case involving Turkish-American businessman Yalçın Ayaslı, overturning a previous conviction handed down by the Istanbul 2nd High Criminal Court. The 12th Criminal Chamber of the Istanbul Regional Court of Justiceruled that the original expert analysis used to convict Ayaslı was inadequate, and requested a new panel of financial and commercial experts to reassess the case.
The decision follows Ayaslı’s 2024 conviction, which sentenced him to 8 years in prison and imposed a 300,000 TL fine for aggravated fraud and forgery of private documents in connection with the 2016 sale of Borajet Airlines.
The court determined that the forgery charges could not be evaluated due to procedural reasons, but stated that the fraud conviction lacked sufficient technical basis and required a more thorough review by professionals with expertise in commercial law, aviation, and financial auditing.
Ayaslı is accused of concealing key liabilities and misrepresenting the financial state of Borajetduring its sale, allegedly causing the buyer, Bugaraj Elektronik Ticaret Bilişim Hizmetleri A.Ş., to suffer losses exceeding 253 million TL.
The retrial will proceed once new expert reports are submitted to the lower court. As of this writing, Ayaslı and his legal team have not made a public statement regarding the appeals court’s ruling.
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