Journalists Karakaya and Yalınkılıç reported on the economic crisis in 2018. Now they and 35 others, including journalists and economists, who commented on the article face jail terms for “trying to weaken the economic order and stability of the state”.

The first hearing of the trial was held at the İstanbul 3rd Penal Court. The court rejected the requests for acquittal and issued warrants against the defendants who did not attend the hearing. The next hearing of the case will be held on January 17, 2020.

At the second hearing of the trial on 17 January 2020, the court heard the testimonies of the defendants who did not proffered at the previous hearing. The court issued an arrest warrant against 4 defendants who did not attended to hearings in order to take their statements and adjourned the hearing to 8 May 2020.

The trial scheduled for 8 May at Istanbul’s 3rd Criminal Court of First Instance, was adjourned until 23 October (8 May).

At the fourth hearing held on October 23, 2020, the court has appointed an ex officio expert to the file and ruled that it shall be separately examined whether the elements of the offense charged were constituted by each defendant. In other words, an expert will now examine whether each defendant “has profited or not” as per the Article 107 of the Capital Market Law (SPK).

The court has also ruled that the execution of warrants against 6 defendants shall be awaited. The next hearing will be held on February 26, 2021 (October 23).

At the hearing held on February 26, it was seen that the requested expert report was not presented and that the panel of experts requested additional time. The court board ruled that the expert report should be presented. The next hearing will be held on June 4 (February 26).

At the hearing held on June 4, 2021, it was seen that the expert report prepared to find out “whether the defendants had profited or not” as per the Capital Market Law (SPK) had arrived and it was determined that the defendants had not made any profits. The attorneys of the Banking Regulation and Supervision Agency (BDDK) were given time for their statements as to the expert report. The next hearing will be held on July 9 (June 4).

The hearing scheduled for July 9, 2021 was adjourned until a later date on the grounds that the judge of the İstanbul 3rd Criminal Judgeship of Peace was on leave (July 9).

As the presiding judge was on leave with a medical report, the lawyers of the defendants did not attend the hearing on November 18, 2021 by offering an excuse. The hearing has been adjourned until a later date (November 18).

At the hearing held on February 22, 2022, the court ruled that the files of five defendants facing a warrant should be separated and the case file should be sent to the prosecutor’s office for the preparation of the final opinion as to the accusations. The next hearing will be held on April 27 (February 22).

At the hearing held on April 27, 2022, the prosecutor’s office pronounced its opinion as to the accusations. The office requested the acquittal of the defendants as the legal elements of the offense charged were not constituted. The next hearing will be held on April 29 (April 27).