President Recep Tayyip Erdogan on Saturday urged Turks to steer clear of pyramid schemes as a scandal raged at a top bank that allegedly defrauded celebrities and football stars of millions of dollars.
Turkey’s media has been filled with headlines for days about the troubles at privately-owned Denizbank.
Court documents reported by Turkish media show that one of the bank’s Istanbul branch managers orchestrated a $44-million scheme that promised 250-percent returns for those willing to hand over piles of cash.
The failed fund bore the name of Turkey’s legendary football coach Fatih Terim and allegedly defrauded stars such as former Barcelona midfielders Arda Turan.
