Investors in the Turkish financial markets are taking blows from a legal battle across the Atlantic these days as a US prosecutor digs deeper into the dealings of an Iranian-Turkish businessman accused of violating US sanctions against Iran with help from high places in Turkey.
Leading the judicial saga is Preet Bharara, US attorney for the Southern District of New York. Bharara’s indictment against businessman Reza Zarrab, who has been under arrest in the United States since March, has rekindled massive corruption allegations against senior figures in Turkey that the government had managed to suppress two years ago.