Shady Turkish business tycoon to be held in Vienna for at least 40 days before extradition: Lawyer

Shady Turkish business tycoon Sezgin Baran Korkmaz, who was detained in Austria last weekend upon Washington's request, will be held in Vienna for at least 40 days before he can be extradited either to the United States or Turkey, attorney Volkan Dülger said.

Wednesday June 23 2021 01:01 pm

Duvar English

Shady Turkish business tycoon Sezgin Baran Korkmaz was detained in Austria after he checked in to a hotel in the province of Wels, his attorney said, Turkish news agencies reported on June 23.

Korkmaz, who fled Turkey in December of last year, was detained by Austrian police on June 19 reportedly upon Washington's request as the mogul is accused of money laundering in the U.S.

Korkmaz will be held in Vienna for at least 40 days before he can be extradited either to the United States or Turkey, attorney Volkan Dülger said, adding that the extradition process could take longer too.

Korkmaz was in Europe for business meetings, and his presence was detected upon his check-in to his hotel in Austria, Dülger said.

The Austrian courts' case against Korkmaz includes a summary of the indictment against the tycoon in Utah, his attorney said, adding that the case is also inclusive of the fact that the tycoon is a high priority wanted person in Turkey.

The U.S. indictment accuses Korkmaz of having laundered over $133 million in fraud proceeds through bank accounts that he controlled in Turkey and Luxembourg.

International law mandates the Austrian court to inspect the cases of both Ankara and Washington before Korkmaz can be extradited, his attorney said, adding that the tycoon will be given time to prepare a defense before his extradition.

If convicted in the United States, Korkmaz faces a maximum penalty of 20 years in prison for the money laundering conspiracy count, 20 years in prison for each of the wire fraud counts, and five years in prison for the obstruction count, the statement said.

Korkmaz, the owner of SBK Holding, is accused by Turkey of money laundering worth $134 million via transferring the income he obtained in the U.S. illegally to the companies he owns and its employees.

The money laundered in question is reportedly part of a decade-long scheme to defraud the U.S. of at least $500 million.

In September last year, prosecutors in Utah submitted a list of properties belonging to Jacob and Isaiah Kingston, also known as the Mormon crime brothers who are Korkmaz's business partners, to a U.S. court, asking for them to be retrieved, including a number of companies and real estates in Turkey.