Turkey seizes assets of opposition party's mayoral candidate

Reuters News
Posted: Jan 17, 2014 12:36 PM

ISTANBUL (Reuters) - Turkish authorities seized the assets of Mustafa Sarigul, the main opposition party CHP's candidate for Istanbul mayor, an official said on Friday, ahead of a crucial local election due to take place in March.

Turkey's Savings Deposit Insurance Fund (TMSF) seized Sarigul's assets after he and his business partners failed to repay a loan dating back to 1998, the TMSF official said.

The move coincides with heightened political tensions amid a far-reaching corruption scandal that has led to the detention of prominent businessmen as well as sons of former cabinet ministers close to Prime Minister Tayyip Erdogan.

Sarigul will run against Istanbul's incumbent mayor, Kadir Topbas of Erdogan's center-right AK Party. Polls suggest Topbas, who has run Turkey's largest city and business capital for about a decade, will beat Sarigul, though the race may prove tight.

Social Security Fails
John Stossel

(Reporting by Asli Kandemir, Writing by Humeyra Pamuk, Editing by Gareth Jones)