How The Erdoğan Family Cashes In Millions On Secret Offshore Ship Deal

Turkish President Erdoğan, a close friend and an Azeri businessman with deep links to Donald Trump... 

This is the story that reveals, according to sources, how a cleptocracy works. Critics of Erdoğan have long estimated his wealth at several billion Euro, as the product of rampant corruption and cronyism in the Turkish state since his Justice and Development Party (AKP) took power in 2003. But these have remained as allegations, lacking proof. 

Until a new investigation into the Erdoğan family business using papers from the #MaltaFiles, with data analysed by the European Investigative Collaboration Network (EIC). 

This piece of valuable journalism provides an extremely rare insight into the secret business of the Erdoğans, and how Turkey’s ruling family exploit their position to enrich themselves. 

Not surprisingly, none of its details reached Turkey, as no media outlet was bold enough to to 'touch' the story to inform the Turkish public.

According to sources, through offshore companies in the Isle of Man and Malta, the Erdoğans secretly own an oil tanker worth nearly 25 million USD called the Agdash. The deal was sealed by Erdoğan's close friend and Turkish businessman, Sitki Ayan, and an Azeri-Turkish billionaire called Mübariz Mansimov, owner of Istanbul-headquartered shipping conglomerate, Palmali Group. 

Documents show that since 2008, the cost of the Agdash deal for the two businessmen totals nearly 30 million USD, with seven million from Ayan, and nearly 23 million from Mansimov. 

An exciting read, indeed.