U.S. Resolves Halkbank Case via Deferred Prosecution

U.S. Justice Department and Halkbank reach deferred prosecution agreement.
Halkbank charged in 2019 with fraud, money laundering, and conspiracy.
$20 billion in secret transfers linked to Reza Zarrab and Mehmet Hakan Atilla.
2020 court ruling denied Halkbank immunity.
U.S. Supreme Court voided prosecution in 2023.
Appeals court found no immunity in 2024.
Halkbank shares rose 10% in Istanbul.
Case tests foreign sovereign immunity under Foreign Sovereign Immunities Act (FSIA).
2025 rulings allowed prosecution.

Legal | Finance

United States | Turkey | International

Reza Zarrab | Mehmet Hakan Atilla

17 hours ago