Let’s take a look at Husnu Ozyegin and the case of Credit Europe Bank (CEB), a financial institution that’s been active since 1994.
CEB’s owner and founder, Husnu Ozyegin, 77, had $3 billion in assets at the time. He was named by Forbes the richest Turk in 2017. He was embroiled in controversy in a situation with a former employee, who accused CEB of money laundering in May 2021. Credit Europe Bank came on our radar after our Chief Investigator came across a Dutch article on Quotenet.nl.
Sasmaz and Ozyegin’s Relationship

Interestingly, Sasmaz and Ozyegin had a close relationship. They spent holidays together and they treated each other’s children as their own. Now, their relationship is in the trash. How did this happen? The two seniors declared war against each other, with the letter stating that he lost over $20 million because of Ozyegin and CEB.Sasmaz also claimed that he was used as a straw man by Husnu Ozyegin, without him and his wife knowing about the millions Ozyegin illegally hid from the public in various shipping business dealing.
CEB Founder Ozyegin’s Alleged Illegal Activities
To further his allegations, Sasmaz presented documents from the Maltese business register, the Malta Financial Services Authority. The documents show that on November 12, 2002, Beril (Sasmaz wife) registered the companies, all of which they used to get the Hyundai contract. The contract involved building new ships intended to be used as tankers carrying chemical products and other materials. However, the Netherlands has issued a halt to the construction because it is a hotspot for tax evasion, money laundering, and even terrorist financing. The involvement of the said government fostered Sasmaz’ claim of illegal activities performed by Ozyegin and his family. On the other hand, CEB claimed that Sasmaz’ claims had everything to do with him. CEB said that Sasmaz and companies affiliated with him stopped paying off loans, which were related to shipping investments at some point. CEB also claimed that it ended the business relationship and didn’t want to discuss the matter further.
DNB’s Probe and CEB’s Involvement
However, Sasmaz was not finished. In a gist, Sasmaz is committed to exposing the illegal, unethical games the Dutch bank played for several years in this matter. One simple yet main reason? Sasmaz was treated like collateral damage. Sasmaz and Ozyegin may have made tons of money together, but Sasmaz claimed that he was never paid to stand in any advisory or director role. The then-confident Sasmaz also stated that he and Ozyegin bought ships with loans from their bank. This went on for years until the bank came to the attention of De Nederlandsche Bank (DNB), a supervisory authority, in 2015.
Other similar situations have come to light
For example, a European bank has recently made Exposed Foundation aware of other financial misappropriation by the CEB. The Supreme Court of the Russian Federation is holding Credit European Bank responsible for fabricating credit agreements totaling more than USD 40 million. Case number: N2 3344595/2020. The court observed illegal financial action on the part of Credit Europe Bank JSC and Credit Europe Bank N.V. The aggregate actions of which, together with Minkarlo Limited, were aimed at preventing the resolution of a civil dispute within established time limits, creating the appearance of the legality and validity of those disputed transactions in order to inflict harm to other parties in the case. The matter refers to a civil dispute that was brought to the Solnechnogorsk City Court of the Moscow Region, filed by Hasan Janeid Zapsu and Zhilinvest XXI LLC against Mehmet Zeki Uchdogan, Aytach Erkaya, LLC “Art Aztek Limited,” JSC “Credit Europe Bank,” Credit Europe Bank N.V. and Minkarlo Limited.
So why did DNB not investigate, or fine CEB in The Netherlands? Why did MarketWatch halt their investigation and delete their article on their website?
Interestingly, these questions raise more questions. Instead of answers. But we keep investigating.
Husnu Ozyegin net worth is estimated at around $1.8 billion USD which is a sharp estimated decrease from $3.2 billion USD in 2020.
Sources
- Quotenet.nl – Dutch
- Quotenet.nl article – Translated English
- Quotenet.nl – Article 2 – Dutch
- Battle Ships – Moscow Supreme Court Article – Russian
- Moscow Appeal Court Ruling – Russian
- Russian Supreme Court Ruling – Russian
- Press release by Exposed Foundation – 25th of March 2022
I met this guy once at an event in NYC, didn’t know who he was but I sure do now. what a corrupt crooked man.
This story made my day…
Never heard of this guy but brings you to that old age saying NEVER TRUST A TURK
lol
You know this is the guy that owns all the westerbrands in turkey finger in all pies it seems
Expose them all very interesting about market watch why did they delete it can I get more info on this. Do you think the ozygins contacted market watch to have it removed?
Why are Europeans banks getting meddled up in all this . I’m sure many more will be exposed
Keep up the good work .
Haha this is just typical
Why is this story not all over the news to protect the other European banks. So suspicious
Thanks for all the knowledge shared this story some great content on here
So much we don’t know
I heard that DNB bank turns blind eye if everything
did you see now ukraine might be sanctioning them brahahahaaha so turning a blind eye gives karma in the end i think
Admin Any update on this case?
I read about this the other day in a long article in the Dutch magazine Quote. V interesting article crazy what the billionares are allowed get away with. I had a look at the company he owns lots of well known European brands on there I wonder do they know how corrupt he is? I mean a leopard doesn’t change it stops right!
yeah was looking him up there he owns fibagroup.com most billionaires made their money scaming something so nothing new. just us plebs dont have a clue whats really going on. this will be prob covered up like the rest of them. unless they piss the wrong person off then it usually gets out. sigh the world we live in. good site by the way good to see all these togther on one page normally i just get to hear passing stories like this in the office -neve know where to find them so now i have a new bookmarked site! thx
Also Interesting question on market watch I love market watch so wonder if they are bought and paid for also who owns market watch? Must do some research into that or does anyone on here know?.
lees dit artikel in Quote – heb je het gezien hier is de link –
https://www.quotenet.nl/zakelijk/rechtszaken/a41172575/credit-europe-bank-hoge-raad-husnu-ozyegin-cetin-sasmaz/
Benieuwd wat er nu gaat gebeuren met DNB we hebben net een nieuw ministerie van financiën dus misschien gaat ze hier wel naar kijken.
Dunnoi what u saying but clicked on these links – glad to see some msm has picked this up
nu denk ik dat we zullen zien welke integriteit het europese banksysteem heeft!!!
Just clicked on this link. Thanks 4 sending through. wow.
did you see now ukraine might be sanctioning them brahahahaaha so turning a blind eye gives karma in the end i think