Fraudulent Bankruptcy

Fraudulent bankruptcy is the deliberate bankruptcy of a trader or company manager with the intention of causing loss to creditors, or the bringing about of bankruptcy by fraudulent means. It is among the offences under the Turkish Criminal Code. Under that Code, a trader who causes loss to creditors by reducing or concealing assets, increasing debts, drawing up forged documents, falsifying or destroying commercial books, or drawing up a balance sheet contrary to the truth commits the offence of fraudulent bankruptcy.