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Turkish Family To Pay 4 Billion To Motorola


Sip

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Some interesting quote snips from the story ...

 

Motorola Awarded More Than $4 Billion

 

By Gail Appleson

 

NEW YORK (Reuters) - A U.S. judge on Thursday ordered the family that owns Turkey's No. 2 wireless carrier to pay Motorola more than $4.2 billion for siphoning off huge sums in a bogus financing scheme.

 

In his 173-page ruling, U.S. District Judge Jed Rakoff ordered the Uzans to pay Motorola $4.26 billion plus interest that could accrue after the judgment. Motorola loaned the Uzans about $2 billion.

 

In his ruling, Rakoff said that between April 1998 and September 2000, the Uzans lied to Motorola and Nokia to get them to transfer about $2.7 billion to Telsim, supposedly to finance a major expansion of its operations.

 

But the family intended to divert a large portion of this money to other entities they controlled and to their own pockets, Rakoff said.

 

He said the family used the funds to pay for such personal items as private airplanes, yachts, helicopters and multimillion dollar apartments in New York and elsewhere.

 

This is the link to the article on yahoo.

 

Note to self ... don't loan money or do any business with the Uzans :D God Damn!!!!!! This is completely F'ed up :o

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Note to self ... don't loan money or do any business with the Uzans :D God Damn!!!!!! This is completely F'ed up :o

Good advice! Those Uzans ... I was always suspicious of those bastards, always asking me to loan them money...

 

:)

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Note to self ... don't loan money or do any business with the Uzans  :D  God Damn!!!!!! This is completely F'ed up  :o

Good advice! Those Uzans ... I was always suspicious of those bastards, always asking me to loan them money...

 

:)

Actually, those names sounds familar to me, I have to check it on the list of Turkish rich families that became rich by stoling the Armenians( I kept a list in the past, I hope I have keepen it), to see if this is why their names is familar to my ears. Akcam did a research about those families in the past. The richest Turkish families for a good part of them became rich that way.

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Note to self ... don't loan money or do any business with the Uzans :D God Damn!!!!!! This is completely F'ed up :o

Sip jan, don't loan any money to the Uzans, but the Azat Foundation is always looking for help.

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From "uzel/uzenal": to want, to need, to beg

 

uzan: (West-Armenian) someone who wants; who needs; a beggar; also a man who wants/offers to get married.

 

East-Armenian: uzogh

 

Don't know if it has any meaning in Turkish or any other language for that matter...

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