US Judge Rejects Halkbank's Request to Delay Prosecution

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US District Judge Richard Berman has rejected a request by Turkey's state-owned Halkbank to pause the case for evading Iran sanctions.

"Simply stated, the court rejects Halkbank's efforts to avoid and delay appropriate district court proceedings," he wrote in a five-page decision yesterday (December 26).

"Halkbank has two reasonable choices: it can either appear in a U.S. court to raise any legitimate defense or it can choose not to appear and face any attendant risks.

"Halkbank will not be irreparably injured by the absence of a stay and, in fact, has proffered no injury other than that of its own making."

On Halkbank's claims that the proceedings would harm the bank and thereby Turkey's economy and would have a negative impact on the US-Turkey relations, the ruling stated, "Halkbank fails to point out that its economic problems may have predated the Indictment, and that mitigation of any economic and reputational damage may best be assured by Halkbank's speedy response to the criminal charges."

Halkbank has refused to enter a plea to the federal fraud and money laundering charges announced on October 15. (PT/VK)