Esat Palazoğlu denies 1.8 billion TL fund profit allegations

Esat Palazoğlu, the son-in-law of Ahmet Mahmut Ünlü (known as Cübbeli Ahmet), has denied allegations regarding massive profits from investment funds currently under investigation. Specifically, Palazoğlu rejected claims that a 180 million TL investment yielded 1.8 billion TL in gains.

Palazoğlu stated that while he has invested in various funds periodically, the reported figures are inaccurate. He asserted that he has actually suffered financial losses due to the situation and described himself as a victim. He welcomed the investigation by the Capital Markets Board of Turkey (SPK) and prosecutors, noting that official bank records and income-expense statements will clarify the true amounts.

Addressing claims regarding ESAM Gayrimenkul Turizm AŞ, Palazoğlu confirmed the company exists but denied being a partner. He also refuted allegations that the company name is an acronym derived from the names of Esat Palazoğlu, Serdar Turhan, Ahmet Palazoğlu, and Muhammed Yarız, stating that any official partnership would be visible in trade registry records.