Former Ottoman CFO indicted

Ahmet Sinan Kalpakçıoğlu (born in 1961) has been indicted for aggravated theft of money from two group companies while serving as The Ottoman Fund’s CFO in Turkey.   If convicted, Kalpakçıoğlu faces in excess of twelve years’ imprisonment and fines.  On 19 October the Istanbul 8th Criminal Court of First Instance accepted the indictment and set a date for the first hearing, which will take place on 7 December 2016, at 9:45a.m. local time.

John D. Chapman, the Company Chairman noted: “We are gratified that given the many issues Turkey now faces its law enforcement agencies and courts have taken a first step towards convicting and punishing Kalpakçıoğlu for stealing over a million US dollars in aggregate from two separate subsidiaries of the Ottoman Fund.  We are grateful for the efforts of our lawyers in Turkey, including Dr. Kaan Kalpakçıoğlu, for diligently pursuing the indictment. We are hopeful that Kalpakçıoğlu will now show remorse for his actions by ensuring restitution of all of the money due to Ottoman.”

OTM : Former Ottoman CFO indicted

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