World Bank Settlement Debars Selçuk Yorgancıoğlu With Integrity Compliance Conditions

On April 20, 2023, the World Bank announced a settlement with Selçuk Yorgancıoğlu in connection with fraudulent conduct as part of the Abraaj Turkey Fund I Project. The settlement debars Yorgancıoğlu, and any firms that he controls, from participating in projects and operations financed by institutions of the World Bank Group for two years. Under the agreement, Yorgancıoğlu admits responsibility for the underlying sanctionable practice and agreed to meet specified integrity compliance conditions in order to qualify for release from debarment. The settlement resulted from an investigation conducted by the World Bank Group’s Integrity Vice Presidency and highlights the World Bank’s efforts to promote high integrity standards in International Finance Corporation (IFC)-financed projects. The Anti-Corruption Report spoke with Matteson Ellis, a partner at Miller & Chevalier, who represents companies and individuals before the World Bank’s sanctions system. See “World Bank Debarments Continued Throughout the COVID 19 Pandemic: Are There More to Come?” (Aug. 18, 2021).

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