Cevher Özden
Cevher Özden | |
|---|---|
| Born | 1933 |
| Died | Error: Need valid birth date (second date): year, month, day Kadıköy, Turkey |
| Occupation(s) | Banker, entrepreneur |
| Known for | Role in 1981–1982 Turkish banking scandal, founder of Banker Kastelli |
Cevher Özden (1933 – 2 June 2008) was a prominent Turkish banker and entrepreneur who played a central role in the most significant banking scandal in Turkey during 1981–1982. He gained the nickname Banker Kastelli from his firm, which was named after a village located near Sürmene in the Trabzon province, through which he established a substantial financial organization.
Özden had over thirty years of experience as a reputable stock exchange broker with a focus on debt securities. He leveraged the economic reforms initiated by Deputy Prime Minister Turgut Özal to his advantage. In 1980, he launched Banker Kastelli and secured exclusive rights to market for ten different banks. By the end of that year, his operations encompassed around US$2.5 billion in deposits from an estimated 550,000 clients. The diversion of these deposits into personal ventures led to mounting concerns from both banking institutions and their customers. When the Central Bank of Turkey introduced stricter monetary controls in 1982, Özden fled to Switzerland, an event that played a part in the subsequent removal of Özal's government.
On 2 June 2008, Özden died by suicide in Kadıköy.