13.03.2026 14:27
Cem Uzan, who described the confiscation of assets in Turkey as "illegal," lost the $68 billion compensation case in Paris. The compensation case, which was Uzan's last hope, was won by the Savings Deposit Insurance Fund (TMSF) after a 5-year legal battle, and his private safe located in his residence in Paris was seized, while all his accounts in French banks were also subjected to precautionary measures.
Cem Uzan, who described the confiscation of his assets in Turkey as "illegal," lost the $68 billion compensation case in Paris.
TMSF WON THE CASE
According to a statement from the Savings Deposit Insurance Fund (TMSF), TMSF won the compensation case, which was Cem Uzan's last hope, at the end of a 5-year legal battle.
Cem Uzan was conducting a legal battle in Europe, but the French judiciary ruled in recent years that the court decisions in Turkey are also valid in France, contrary to these claims. This process resulted in the rejection of the compensation case filed by the Uzan family in 2021.
SEIZED THE SAFE
Following this decision, TMSF seized the private safe located in Cem Uzan's residence in Paris. Precautionary measures were also placed on all his accounts in French banks.
The court determined that the Uzans were trying to create an artificial ground to exceed the jurisdiction of Turkish courts. In the reasoned decision, it was emphasized that TMSF is a public legal entity and that French courts do not have the authority to intervene in the functioning of public services of a foreign state.
THE DAMAGE THEY CAUSED TO TURKEY IS AT LEAST $17.4 BILLION
The court, which rejected the case on the grounds of lack of jurisdiction, also ruled that the Uzans must pay a total of 100,000 euros in compensation to the defendants. It was reported that the damage caused by the Uzan family to Turkey is at least $17.4 billion.
It was stated that the dual recording kept in Imar Bank, managed by Cem Uzan and his family, caused approximately $6.5 billion in public damage, and that the resulting loss was covered by public taxes. It was noted that TMSF borrowed from the Treasury for the mentioned damage amount and that the money was refunded to the individuals harmed by Imar Bank.
It was reported that the public damage caused by the Uzan family corresponds to approximately $17.4 billion in today's money when indexed to government bonds. On the other hand, a conviction was issued against Cem Uzan for this irregularity after the detection of transactions he conducted retroactively to evade responsibility in the Imar Bank scandal.
HE HAS A FINAL SENTENCE OF 47 YEARS AND 5 MONTHS IN PRISON
As a result of the cases seen in the Istanbul 7th Heavy Criminal Court, Istanbul 8th Heavy Criminal Court, and Pamukova Criminal Court, Cem Uzan was convicted of "defrauding public institutions and organizations, qualified embezzlement, establishing and managing an organization for the purpose of committing a crime, preparing official documents, and depriving a person of their liberty by incitement." Uzan has a final sentence of 47 years, 5 months, and 20 days in prison.
TMSF is also conducting legal battles abroad to collect the public damage caused by selling the Uzan family's assets. It was reported that the International Arbitration Tribunal found Turkey justified in the case related to Çukurova Electricity (ÇEAŞ) and Kepez Electricity, and that the Libananco case, amounting to $23.5 billion with interest, was concluded in favor of the Republic of Turkey.