Turkish Gendarmerie escort defendants Akin Ozturk, third left, and others involved in last July’s attempted coup in Turkey as they leave the prison where they are being held, ahead of their trial in Ankara, on May 22, 2017. The trial opened on May 22, 2017 with more than 220 suspects, including over two dozen former Turkish generals, accused of being among the ringleaders of the attempted coup last year. Adem Altan/AFP
Turkish Gendarmerie escort defendants Akin Ozturk, third left, and others involved in last July’s attempted coup in Turkey as they leave the prison where they are being held, ahead of their trial in Ankara, on May 22, 2017. The trial opened on May 22, 2017 with more than 220 suspects, including over two dozen former Turkish generals, accused of being among the ringleaders of the attempted coup last year. Adem Altan/AFP
Turkish Gendarmerie escort defendants Akin Ozturk, third left, and others involved in last July’s attempted coup in Turkey as they leave the prison where they are being held, ahead of their trial in Ankara, on May 22, 2017. The trial opened on May 22, 2017 with more than 220 suspects, including over two dozen former Turkish generals, accused of being among the ringleaders of the attempted coup last year. Adem Altan/AFP
Turkish Gendarmerie escort defendants Akin Ozturk, third left, and others involved in last July’s attempted coup in Turkey as they leave the prison where they are being held, ahead of their trial in A

Turkey opens trial of 220 alleged coup plotters


  • English
  • Arabic

ANKARA // Turkey on Monday put on trial 221 suspects, including 27 former generals, accused of being the instigators of a failed military coup last July.

The main defendants are Gen Akin Ozturk, a former air force commander, and about 40 other alleged members of the so-called Peace at Home Council – a group on whose behalf a coup declaration was read on state television.

Other defendants include Col Ali Yazici, the former military aide to president Recep Tayyip Erdogan; Mehmet Disli, the brother of senior ruling party legislator Saban Disli; and Lt Col Levent Turkkan, who was the aide of Turkey’s chief of staff Gen Hulusi Akar.

The suspects face life prison terms if found guilty of charges that include attempting to destroy the government and the parliament, leading an armed terror group, attempting to assassinate the president and killing about 250 people, the state-run Anadolu news agency reported.

Fethullah Gulen, a US-based preacher wanted by Turkey for allegedly orchestrating the coup, is among nine defendants who are being tried in their absence. Mr Gulen has denied any involvement in the coup attempt.

The hearings are taking place in a courthouse and prison complex in Sincan, on the outskirts of Ankara, that was built especially for the trial. Security was tight, with snipers standing guard on rooftops and a drone flying overhead.

The suspects were forced to walk along a lane toward the courthouse, held by military police officers on each arm and each protected by a commando officer. As they walked by, pro-government protesters called for the death penalty to be reinstated and for the defendants to be hanged, although the capital punishment is unlikely to be applied retroactively.

Some held up banners that demanded “the death penalty on behalf of the martyrs of the July 15 coup” while others shouted “traitors!” A rope used for hanging was thrown at one of the defendants.

“We want the death penalty, we don’t want them to be fed and housed here. We want these traitors to be buried without any flag,” said protester Cengiz Ozturk.

Turkey abolished the death penalty as part of its drive to join the European Union but Mr Erdogan has on occasion suggested it could be reimposed to deal with the coup plotters.

The trial is one of many being held across the country to judge the coup suspects. The vast Sincan courtroom, which can hold more than 1,500 people, in February hosted the opening of the trial of 330 suspects accused of murder or attempted murder on the night of July 15.

In a related development on Monday, Amnesty International released a report criticising Turkey’s government for dismissing tens of thousands of public sector employees following the coup, saying the massive crackdown had left teachers, academics, doctors, police officers and soldiers branded as “terrorists” and unable to make a living. It has called on Turkey to end the arbitrary dismissals, saying they have had devastating effects on the individuals and their families.

More than 100,000 public servants have been dismissed and banned from the civil service through decrees issued under the state of emergency for alleged connections to Mr Gulen and groups listed as terror organisations. More than 47,000 people have also been arrested for alleged links to the coup.

The government says the purge is necessary to weed out Mr Gulen’s followers.

* Associated Press and Agence France-Presse

The biog

Age: 59

From: Giza Governorate, Egypt

Family: A daughter, two sons and wife

Favourite tree: Ghaf

Runner up favourite tree: Frankincense 

Favourite place on Sir Bani Yas Island: “I love all of Sir Bani Yas. Every spot of Sir Bani Yas, I love it.”

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COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Floward%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3ERiyadh%2C%20Saudi%20Arabia%0D%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EAbdulaziz%20Al%20Loughani%20and%20Mohamed%20Al%20Arifi%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EE-commerce%0D%3Cbr%3E%3Cstrong%3ETotal%20funding%3A%20%3C%2Fstrong%3EAbout%20%24200%20million%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EAljazira%20Capital%2C%20Rainwater%20Partners%2C%20STV%20and%20Impact46%0D%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%20%3C%2Fstrong%3E1%2C200%3C%2Fp%3E%0A
if you go

The flights
Flydubai offers three daily direct flights to Sarajevo and, from June, a daily flight from Thessaloniki from Dubai. A return flight costs from Dhs1,905 including taxes.
The trip 
The Travel Scientists are the organisers of the Balkan Ride and several other rallies around the world. The 2018 running of this particular adventure will take place from August 3-11, once again starting in Sarajevo and ending a week later in Thessaloniki. If you’re driving your own vehicle, then entry start from €880 (Dhs 3,900) per person including all accommodation along the route. Contact the Travel Scientists if you wish to hire one of their vehicles. 

Company%20profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3EHakbah%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2018%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3ENaif%20AbuSaida%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3ESaudi%20Arabia%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%20%3C%2Fstrong%3E22%20%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%20%3C%2Fstrong%3E%24200%2C000%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3Epre-Series%20A%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EGlobal%20Ventures%20and%20Aditum%20Investment%20Management%0D%3Cbr%3E%3Cbr%3E%3C%2Fp%3E%0A
Company%20profile
%3Cp%3E%3Cstrong%3ECompany%3A%20%3C%2Fstrong%3ESplintr%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3EMay%202019%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EMohammad%20AlMheiri%20and%20Badr%20AlBadr%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%20and%20Riyadh%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3Epayments%20%2F%20FinTech%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ESize%3A%20%3C%2Fstrong%3E10%20employees%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInitial%20investment%3A%20%3C%2Fstrong%3Eundisclosed%20seven-figure%20sum%20%2F%20pre-seed%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStage%3A%20%3C%2Fstrong%3Eseed%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3Eangel%20investors%3C%2Fp%3E%0A
Red flags
  • Promises of high, fixed or 'guaranteed' returns.
  • Unregulated structured products or complex investments often used to bypass traditional safeguards.
  • Lack of clear information, vague language, no access to audited financials.
  • Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
  • Hard-selling tactics - creating urgency, offering 'exclusive' deals.

Courtesy: Carol Glynn, founder of Conscious Finance Coaching

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”