Seçil Erzan

Branch manager Rahşan Eylem Bulut (left), assistant branch manager Utku Erdem (right), who have been detained within the investigation

Authorities have detained eight individuals in connection with an alleged embezzlement scheme involving the misappropriation of 205 million Turkish Liras ($6.65 million) from customers' accounts at a branch of private lender Denizbank in Antalya.

The trial of a former branch manager of private lender Denizbank resumed in an Istanbul court yesterday, marking its fourth hearing as footballers provided testimony in a case involving allegations of a pyramid scheme that allegedly swindled renowned players, including Arda Turan and Fernando Muslera.

A new development in the high-profile fraud case involving Seçil Erzan, former branch manager of private lender Denizbank who swindled renowned football stars, sees new evidence emerge as an expert report detailing the examination of defendants' phone records has been added to the case file.

The trial of a former branch manager of private lender Denizbank, accused of orchestrating a pyramid scheme that allegedly swindled renowned football stars, including Arda Turan and Fernando Muslera, entered its second hearing at an Istanbul court on Jan. 12.

In a widely covered case in which numerous Turkish football stars were allegedly defrauded, some of the victims have filed a criminal complaint against the bank accused of delaying reporting the location of the main suspect, the bank manager, to the authorities in order to persuade her to testify in favor of the institution.

In the first response to the prolonged controversy surrounding a bank manager accused of defrauding prominent footballers and business figures, the bank has denied the allegations of responsibility over the financial losses of the victims.

The bank asserted that all transactions between the manager and the victims occurred outside the bank's responsibility.

A high-profile case involving a banker accused of defrauding prominent footballers and business figures has taken a dramatic twist with her alleging that high-ranking private lender DenizBank executives were not only aware of the fraudulent activities but also pressured her to testify otherwise.

An Istanbul prosecutor's office has sought a 216-year jail term for a bank manager accused of defrauding a group of prominent individuals, including well-known footballers such as Arda Turan and Fernando Muslera, by promising high returns on their investments.