Former BDDK president denies corruption

Former head of the Banking Regulation and Supervision Agency (BDDK) Engin Akçakoca denied allegations yesterday that the 2001 confiscation of Pamukbank by his institution was arranged on the basis of political ambitions and personal interest.

Transcripts of phone conversations seized during the investigation into Ergenekon -- published in the media on Wednesday -- revealed curious conversations between high-profile bureaucrats including Akçakoca, American banking professionals and media bosses, concerning the takeover of a failed bank in the year 2002.

The transcripts indicate that media groups, bureaucrats at state banking agencies and government personnel together arranged for the takeover of Pamukbank. Akçakoca said the confiscation of the bank, nearing bankruptcy, was entirely legal. He also referred to the allegations as attempts to link the takeover to the Ergenekon gang and denied any such connection.