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Husnu Ozyegin Billionaire Founder Under Investigation Brings to Light DNB’s Corruption

by Exposed
March 16, 2022 - Updated on September 13, 2022
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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 

Husnu Ozygein speakiing on stage at podium
NEW YORK, NY – OCTOBER 06: Founder/Chairman of FIBA holdings and event honoree Ozyegin speaks on stage during The 2015 American Turkish Society Gala held at The Pierre Hotel on October 6, 2015 in New York City, The United States of America.

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
Tags: conspiracycorruptionexposedfraudmoney launderingwhistleblower
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Comments 23

  1. Adlee says:
    1 year ago

    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.

    Reply
  2. Anonymous says:
    1 year ago

    This story made my day…

    Reply
  3. T lourdey says:
    1 year ago

    Never heard of this guy but brings you to that old age saying NEVER TRUST A TURK

    Reply
    • Timothy Kingham says:
      9 months ago

      lol

      Reply
  4. Sir Cheeze says:
    1 year ago

    You know this is the guy that owns all the westerbrands in turkey finger in all pies it seems

    Reply
  5. Charlotte Douglas says:
    1 year ago

    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?

    Reply
  6. Brian oShea says:
    1 year ago

    Why are Europeans banks getting meddled up in all this . I’m sure many more will be exposed

    Reply
  7. Brian oShea says:
    1 year ago

    Keep up the good work .

    Reply
  8. K says:
    12 months ago

    Haha this is just typical

    Reply
  9. Pat Burchee says:
    12 months ago

    Why is this story not all over the news to protect the other European banks. So suspicious

    Reply
  10. Steve says:
    12 months ago

    Thanks for all the knowledge shared this story some great content on here

    Reply
  11. Anon says:
    11 months ago

    So much we don’t know

    Reply
  12. Anon says:
    11 months ago

    I heard that DNB bank turns blind eye if everything

    Reply
    • TT says:
      6 months ago

      did you see now ukraine might be sanctioning them brahahahaaha so turning a blind eye gives karma in the end i think

      Reply
  13. Timothy Kingham says:
    9 months ago

    Admin Any update on this case?

    Reply
  14. Wilhelm says:
    9 months ago

    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!

    Reply
    • mike says:
      9 months ago

      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

      Reply
  15. Wilhelm says:
    9 months ago

    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?.

    Reply
  16. Juergen Van der Does says:
    6 months ago

    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.

    Reply
    • Pat Burchee says:
      6 months ago

      Dunnoi what u saying but clicked on these links – glad to see some msm has picked this up

      Reply
    • Wilhelm says:
      6 months ago

      nu denk ik dat we zullen zien welke integriteit het europese banksysteem heeft!!!

      Reply
    • Sir Cheeze says:
      6 months ago

      Just clicked on this link. Thanks 4 sending through. wow.

      Reply
  17. TT says:
    6 months ago

    did you see now ukraine might be sanctioning them brahahahaaha so turning a blind eye gives karma in the end i think

    Reply

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Exposed is run by the Exposed Foundation, a startup created and supported by a group of like-minded students, activists, and journalists dedicated to exposing malpractice, fraud, and injustice in the financial industry.

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