Mehmet Aydin, founder of the Farm Bank, known as Ciftlik Bank in Turkey. Anadolu
Mehmet Aydin, founder of the Farm Bank, known as Ciftlik Bank in Turkey. Anadolu
Mehmet Aydin, founder of the Farm Bank, known as Ciftlik Bank in Turkey. Anadolu
Mehmet Aydin, founder of the Farm Bank, known as Ciftlik Bank in Turkey. Anadolu

Ciftlik Bank’s Mehmet and Fatih Aydin sentenced to 45,376 years each for fraud


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Two Turkish brothers were sentenced to 45,376 years and six months in prison on Monday after being found guilty of money laundering and fraud relating to an online farming game.

Ciftlik [Farm] Bank was launched by Mehmet Aydin – nicknamed "Tosuncuk" after the Turkish term for a chubby, healthy baby – in 2016. The game was similar to the larger online game FarmVille, in that it allowed users to purchase animals and land in-game, but crucially it claimed to fund farms in Turkey and offered returns on money invested. Turkey's Capital Markets Board filed a criminal complaint after users complained about the scheme.

His brother, Fatih Aydin and another man named Koray Hasgül were sentenced in person, while others, who remain fugitives, were handed their punishment in absentia, Anadolu reported

The operation, based in Cyprus, took in more than $131 million from around 132,000 people in the 18 months before its collapse in early 2018. The men were sentenced after being found guilty of 4,414 crimes, including multiple counts of IT fraud, money laundering and starting a criminal organisation, the Turkish Demirören News Agency reported.

Mehmet Aydin, 33, denied any wrongdoing, saying he believed he should be acquitted and had the money to reimburse those who invested, but that his accounts were now frozen, the Turkish outlet DHA reported. He handed himself in to the Turkish consulate in Sao Paulo, Brazil in 2021 after leaving Turkey and going on the run in 2018. His brother was detained in Uruguay in July 2021.

The pair were also issued with a fine of more than 496 million Turkish lira ($13.7 million).

The specs: Aston Martin DB11 V8 vs Ferrari GTC4Lusso T

Price, base: Dh840,000; Dh120,000

Engine: 4.0L V8 twin-turbo; 3.9L V8 turbo

Transmission: Eight-speed automatic; seven-speed automatic

Power: 509hp @ 6,000rpm; 601hp @ 7,500rpm

Torque: 695Nm @ 2,000rpm; 760Nm @ 3,000rpm

Fuel economy, combined: 9.9L / 100km; 11.6L / 100km

HAJJAN
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Afghanistan Premier League - at a glance

Venue: Sharjah Cricket Stadium

Fixtures:

Tue, Oct 16, 8pm: Kandahar Knights v Kabul Zwanan; Wed, Oct 17, 4pm: Balkh Legends v Nangarhar Leopards; 8pm: Kandahar Knights v Paktia Panthers; Thu, Oct 18, 4pm: Balkh Legends v Kandahar Knights; 8pm: Kabul Zwanan v Paktia Panthers; Fri, Oct 19, 8pm: First semi-final; Sat, Oct 20, 8pm: Second semi-final; Sun, Oct 21, 8pm: final

Table:

1. Balkh Legends 6 5 1 10

2. Paktia Panthers 6 4 2 8

3. Kabul Zwanan 6 3 3 6

4. Nagarhar Leopards 7 2 5 4

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Islamophobia definition

A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.

Mobile phone packages comparison
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Director: Majid Al Ansari

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GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

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Price: From Dh149,900

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Engine: 6.2-litre V8

Transmission: ten-speed

Power: 420bhp

Torque: 624Nm

Price: Dh325,125

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The alternatives

• Founded in 2014, Telr is a payment aggregator and gateway with an office in Silicon Oasis. It’s e-commerce entry plan costs Dh349 monthly (plus VAT). QR codes direct customers to an online payment page and merchants can generate payments through messaging apps.

• Business Bay’s Pallapay claims 40,000-plus active merchants who can invoice customers and receive payment by card. Fees range from 1.99 per cent plus Dh1 per transaction depending on payment method and location, such as online or via UAE mobile.

• Tap started in May 2013 in Kuwait, allowing Middle East businesses to bill, accept, receive and make payments online “easier, faster and smoother” via goSell and goCollect. It supports more than 10,000 merchants. Monthly fees range from US$65-100, plus card charges of 2.75-3.75 per cent and Dh1.2 per sale.

2checkout’s “all-in-one payment gateway and merchant account” accepts payments in 200-plus markets for 2.4-3.9 per cent, plus a Dh1.2-Dh1.8 currency conversion charge. The US provider processes online shop and mobile transactions and has 17,000-plus active digital commerce users.

• PayPal is probably the best-known online goods payment method - usually used for eBay purchases -  but can be used to receive funds, providing everyone’s signed up. Costs from 2.9 per cent plus Dh1.2 per transaction.

Sukuk explained

Sukuk are Sharia-compliant financial certificates issued by governments, corporates and other entities. While as an asset class they resemble conventional bonds, there are some significant differences. As interest is prohibited under Sharia, sukuk must contain an underlying transaction, for example a leaseback agreement, and the income that is paid to investors is generated by the underlying asset. Investors must also be prepared to share in both the profits and losses of an enterprise. Nevertheless, sukuk are similar to conventional bonds in that they provide regular payments, and are considered less risky than equities. Most investors would not buy sukuk directly due to high minimum subscriptions, but invest via funds.

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8.15pm Singspiel Stakes Group Two (TB) $250,000 (T) 1,800m

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9.25pm Al Maktoum Challenge Round-1 Group Two (TB) $350,000 (D) 1,600m

Winner Kimbear, Pat Dobbs, Doug Watson.

10pm Dubai Trophy Conditions (TB) $100,000 (T) 1,200m

Winner Platinum Star, Christophe Soumillon, Saeed bin Suroor.

10.35pm Handicap (TB) $135,000 (T) 1,600m

Winner Key Victory, James Doyle, Charlie Appleby.

Director: Paul Weitz
Stars: Kevin Hart
3/5 stars

Updated: February 03, 2025, 4:17 PM