The bank's 84.52% stake was taken over by the Savings Deposit Insurance Fund of Turkey (Turkish: Tasarruf Mevduatı Sigorta Fonu, TMSF) for sale in a public tender.
On May 18, Police of Istanbul applied to the State Security Court (Turkish: Devlet Güvenlik Mahkemesi) to obtain a permission to eavesdrop businessman Korkmaz Yiğit's mobile phone for the length of one month due to reasonable grounds on his existing ties with and money transfer to organized crime.
[8] Alaattin Çakıcı (born 1953), a former member of the ultra-nationalist organization Grey Wolves and one of the leading mobs of the Turkish underworld, was a fugitive since 1992, sought for several crimes.
Fikri Sağlar, a deputy of the Republican People's Party (CHP) in the opposition and a former Minister of Culture, received a recording tape by mail on August 29, which contained a conversation between Yiğit and Çakıcı about the Türkbank tender.
[9] Yiğit was taken to the Organized Crime Department of Istanbul Police, where he presented a testimony of five pages on November 12, in which he confessed all his connections and unlawful doings related to the tender process.
[10][12] After hearing several politicians and journalists, the parliamentary committee prepared an investigative report, which blamed Yılmaz for conspiring to rig bids on tender.
[9] After the 2002 general election on November 3, the Justice and Development Party (AKP) and CHP both pushed the suspended corruption cases, including the Türkbank scandal.