Tycoon's travails highlights Turkey's troubled business culture

11/22/2011 | Wall Street Journal, The

Mehmet Emin Karamehmet, chairman of Turkey's Cukurova Holding and the country's richest man, could go to prison for up to 12 years if he is convicted in a retrial of the fraud case against him. Analysts say the plight of Karamehmet's business empire demonstrates bigger problems in the Turkish business world, as the country's strong entrepreneurial spirit is often undermined by poor corporate governance.

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