Chief Prosecutor Kanadoglu Suits File About Former Central Bank Governor Ercel

ANKARA, Jan 10 (A.A) - Chief Prosecutor of the Supreme Court of Appeals Sabih Kanadoglu filed a suit on Thursday about former Central Bank Governor Gazi Ercel claiming that he misused his authority.
The indictment claimed that Ercel sold 5,18 billion U.S. dollars to certain institutions before the government decided to adopt the floating exchange rate system and misused his authority.
Noting that the foreign exchange reserves of the Central Bank which was 27,4 billion dollars on February 16, 2001 decreased by 5,36 billion dollars to 22,58 billion dollars on February 20.
''The treasury of the state deteoritated by this rapid outflow of foreign exchange,'' said the indictment. Kanadoglu also said in the indictment that totally 5,18 billion U.S. dollars was sold from the Central Bank reserves on February 9, 20 and 21, 2001 to 86 institutions.
The indictment also noted that Ercel also exchanged his personal account in TL into U.S. dollars and misused his authority.
The indictment requested imprisonment of Ercel under Article 80 of Turkish Penal Code.