İsmail Karahan is a board member of Mepa Medya A.Ş., Hayat Görsel Yayıncılık A.Ş. and Beyaz Holding A.Ş. He studied business management at Istanbul University. He worked as a manager in steel industry and clothing sector in 1986-1987. In 1994, he was the co-founder and board member of Yeni Dünya İletişim A.Ş. (Kanal 7). In July 2011, he was sent to prison with Zekeriya Karaman, Zahid Akman and Mustafa Çelik as part of an ongoing investigation into embezzlement at the Germany-based Lighthouse e.V. charity. They were released from prison on October 2011. He was accused of forging documents, fraud and buying Kanal 7 shares with charity money. In 2015, charges were dropped due to acquittals against them.
Construction: Karahan İnşaat, owner and board member, Karahan Kardeşler İnşaat Sanayi ve Ticaret Ltd. Şti, shareholder and board member Trade: İmex Global Danışmanlık ve Dış Ticaret Ltd. Şti., board member. Marketing: Mez Taşıt Pazarlama Eğitim ve Organizasyon Lti. Şti., board member Textile: Eko Tekstil, board member Cosmetics: Bio 7 Bitkisel İlaç Kozmetik ve Gıda Takviyeleri A.Ş.
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