Football stars testify in alleged ponzi-scheme trial
ISTANBUL
The trial of a former branch manager of private lender Denizbank resumed in an Istanbul court yesterday, marking its fourth hearing as footballers provided testimony in a case involving allegations of a pyramid scheme that allegedly swindled renowned players, including Arda Turan and Fernando Muslera.
According to the indictment, Seçil Erzan is charged with defrauding 21 individuals of approximately $44 million by luring them into a pyramid scheme promising substantial returns from a "secret special fund."
The prosecution alleges that while Erzan made partial payments to some investors, including business magnates, she failed to pay returns or principal amounts to most of the victims.
Prominent footballers, including Turan, Muslera and Emre Belözoğlu, testified for the first time. Muslera recounted depositing $1.2 million into the fund, only to receive $700,000 in return with no gains despite a 35 percent return promise.
When asked about his decision not to file a complaint earlier, Muslera said, "Because there was no time left for me. I realized it was corruption."
Belözoğlu, informed of the funds through a phone call from his cousin, Volkan Bahçekapılı, claimed to have invested over $4 million but received no returns from Erzan.
Turan, for his part, revealed that he entrusted Erzan with $13.8 million, receiving only $6.4 million in return. "Sometimes I sold my house, sometimes I borrowed money from my friends. Somehow, I regularly deposited money to Seçil Erzan in pieces," he told the court.
The former Barcelona star expressed regret over his late realization of the scheme. “I am a little naive in these matters. Would I pay this much money if I were not?" he said.
Selçuk İnan, another football player implicated in the case, was absent from the hearing.
An Istanbul prosecutor is seeking a 216-year jail term for Erzan on charges of "aggravated fraud" and "document forgery." Erzan has been in custody since April of the previous year.
For its part, Denizbank has previously denied responsibility for the incident and financial losses suffered by the victims.
In the previous hearings, Erzan claimed to have significantly improved the financial standing of the football players involved.
"Their cars were upgrading to the next model. They were buying fields. They were earning money three, five or 10 times their income," she said.
