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Last Updated: Thursday, 31 July, 2003, 21:04 GMT 22:04 UK
Turkey clan loses to Motorola
Cem Uzan
Cem Uzan has political ambitions
A United States judge has ordered a controversial Turkish business dynasty to pay more than $4bn to the mobile phone giant Motorola.

The judge found that the Uzan family had defrauded the company through what he called an almost endless series of lies.

Motorola and its rival Nokia accused the Uzans of spending $3bn they lent them for expansion of Telsim, the Turkish wireless carrier, on yachts, New York property and other luxuries.

This dispute has nothing to do with the US courts
Hakan Uzan

Hakan Uzan, Telsim's chief executive, said the family would appeal the ruling.

"The contract between Telsim and Motorola and Nokia specifically stated that disputes should be heard in arbitration in Switzerland... This dispute has nothing to do with the US courts," he said.

Political ambitions

It is the latest setback for the Uzans, who in recent weeks have seen many of their assets seized in Turkey itself.

The family's most prominent member, Cem, has complained of political persecution.

Opinion polls suggest his strongly nationalist Youth Party is increasingly popular in Turkey.

The Uzans are one of the world's richest families, with interests in banking, construction, electric power, mobile telephones and the media.




WATCH AND LISTEN
Motorola's lead lawyer Howard Stahl
"Money loaned was used to buy yachts, planes or appartments"



SEE ALSO:
Turkish business bust-up escalates
09 Jul 03  |  Business
Anger over Turkish bank closure
04 Jul 03  |  Business


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