Turkey Flirts With Another Banking Crisis

A raid uncovers shoe boxes of cash at a CEO’s home
Istanbul Photograph by Sadik Gulec/Corbis

When Turkish police searched the Istanbul home of Süleyman Aslan in December—part of a series of raids in a corruption crackdown—they found $4.5 million stashed in three shoe boxes and hidden in bookshelves. Aslan, then chief executive officer of state-owned Turkiye Halk Bankasi, said in court that the money came from donations collected for his alma mater in central Turkey and to help build a university in Macedonia.

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