Partners of the Buisly Overseas Corporation, which include Altinbas Holdings have been named in the Panama Papers. The company was sentenced in Izmir for “establishing a crime organisation” and for “being members of crime organisations”.
The Altinbas family from Gaziantep in Turkey is the owner of several petrol stations in North Cyprus. Altinbas began to make investments in North Cyprus in 1975, and became “one of the largest capital investors in the North”.
Kibris Postasi reports that the other partners of Buisly Overseas Corp., Fuat Yalvac and Nihat Yalvac, were tried in 2013 and sentenced to 10 years imprisonment for fuel smuggling.
In addition, the South Cyprus’ tax department is now examining the involvement of companies linked to Cyprus that were exposed by the Panama Papers leak, it emerged on Wednesday.
Tax commissioner Yiannis Tsangaris told outgoing leader of the Assembly, Yiannakis Omirou that the tax department “has already started processing the data included in the Panama Papers list to determine whether tax or other criminal offences have been committed”.
Kibris Postasi, Sigma TV