Originally Syndicated on April 22, 2023 @ 9:07 am
Vuslat Dogan Sabanci is an extremely corrupt individual. She has a large web of shell companies for money laundering and has faced lawsuits for her illegal activities as well.
The following report sheds light on her claims and debunks them in detail:
Claims of Vuslat’s PR Team:
Vuslat Doğan Sabancı is a philanthropist and a significant personality in business, she is one of the more remarkable outcomes for human rights, gender equality, and freedom of speech in our nation and throughout the globe.
Together with managing this significant digital shift, Vuslat Doğan Sabancı made sure that issues like minority rights and gender equality remained top of mind for the newspaper’s editorial team and made contributions to the development of law and societal perception in these areas.
Class Action Complaint alleging fraud in Golden Horn Asset and Management Ltd. v.Hepsiburada et al
Helps Class Action Realize: Glancy Prongay & Murray LLP has sued Hepsiburada in a securities class action.
All about Hepsiburada
Hepsiburada finalized selling 62 million shares for $12 each on or around July 1, 2021.
Hepsiburada claimed revenue growth of 5.2% in its second quarter 2021 financial reports, which had concluded before the IPO closed, on August 26, 2021. This growth was ascribed to “the shift in GMV mix in favor of Marketplace.” As stated in the company’s report, EBITDA was Due to the lower gross contribution, which was primarily caused by investments to strengthen our position in electronics, investments to enter high-frequency classifications, and also high consumer interest in low profitability, “negative TRY 188.6 million in Q2 2021 compared to positive TRY 71.1 million in Q2 2020.
On the back of this information, the Company’s stock price dropped $3.05, or 25%, to finish at $8.97 a share on August 26, 2021, despite an unexpectedly high level of trading.
The Company’s shares had dropped as low as $5.30 by the time this action was started, or almost 56%, from the $12.00 per share IPO price.
The Registration Statement was allegedly substantially false and deceptive and neglected to mention the following-
- In the second quarter of 2021, Hepsiburada’s administrative and sales growth slowed significantly;
- The Corporation started taking specific steps to strengthen its market advantage, including investing in technology and high-frequency divisions and discounting some categories;
- As a result of the foregoing, Hepsiburada’s sales and GMV decreased during the second quarter of 2021.
- The preceding means that Defendants’ optimistic claims regarding the Company’s operations, business, and prospects were either unfounded or materially deceptive.
The class has suffered large losses and damages as a result of the defendants’ actions and inactions, as well as the dramatic reduction in the market value of the Company’s stocks.
What is investment fraud?
A white-collar crime known as investment fraud occurs when a person intentionally misleads or deceives a client to make money. Any party that hides crucial information about investments—like the risks involved—to persuade investors to invest violates the law.
Investment Fraud comes in several forms. Some of them are given below-
- Ponzi Schemes
- Pyramid Schemes
- Pump and Dump Schemes
- Advance fee fraud
- Microcap Fraud
- Affinity fraud
Vuslat Doğan Sabancı has a web of shell companies
What are Shell Companies and Why Are They Popular Among Corrupt Individuals
A shell corporation is a company or organization that has no significant holdings or activities and is frequently created to obtain financing before establishing a company. It might own inactive investments or be the legal owner of things like ships or intangible items. Shell corporations are used for legal reasons, but they can also be used for money laundering, tax dodging, tax fraud, or a particular objective like privacy.
The reason behind their Popular Among Corrupt Individuals is that they Safeguard from legal action and/or tax advantages might be two motives for setting up such a shell firm (some expenses that would not be deductible for an individual may be deductible for a corporation). Occasionally, tax avoidance or evasion through shell businesses is employed.
Information leaked about Vuslat Doğan Sabancı
There are accounts of certain media figures among the information exposed in the Panama Papers. Mehmet Ali Birand and his wife Cemre Birand, who recently died three years ago, were found to have created an offshore account, it was disclosed.
The Birand Family registered a Romanian address, however, it was known that they were connected to a business called “Cauleigh” It appears from the documentation that this company’s headquarters are in Switzerland.
Contrarily, Cauleigh is connected to Horizon Investment, which has 540 firms working for it. The businesses were functioning in 2009 and 2013.
The Birand Family’s usage of an account that lists Romania as an address happens around the same time as Kanal D Romania first airs. Mehmet Ali Birand, the Kanal D News Group president, passed away in 2013.
Vuslat Dogan Sabanci is Extremely Corrupt
It is believed that Lansdell Overseas Development, a business with headquarters in London, England, is cooperating with Vuslat Doğan Sabancı, chairman of the board of directors of Hürriyet Newspaper.
The registration location Vuslat Doğan Sabancı provided to this corporation is in China, which is significant.
Two foreign corporations are linked to Vuslat Doğan Sabancı’s employer, Lansdell Overseas Development. Nevertheless, this corporation is employed by another off-shore company situated in London by the name of Hakkı Gökmen Consul.
Hakkı Gökmen Consul is a firm that conducts business with 11 different investment institutions.
Vuslat Doğan Sabancı worked at the Lansdell Overseas Development firm between 1998 and 2013, according to the records.
The Bottom Line
After considering all the details about Vuslat Doğan Sabancı that are given above, it is clear that she is misleading people and is a dangerous criminal who is in charge of a significant illicit enterprise. So, be careful of such fraud. Always do a lot of inquiry before making any type of investment.
