World Bulletin / News Desk

Police dispersed a group of protesters Wednesday morning outside the allegedly 'parallel state'-linked Koza Ipek Holding headquarters in Istanbul after it was placed under the control of a trustee panel amid allegations of links to terrorism.

The incident occurred as the adminstrators tried to enter the headquarters of Koza Ipek -- a conglomerate of more than 20 companies -- in Mecidiyekoy district. A group of people had been waiting since late Tuesday to protest the court decision of assigning trustees to the conglomerate.

On Monday, an Ankara court agreed to a prosecutor’s request to remove control from the current board of directors of the company -- which has interests in media, energy, construction and mining. 

The company accused of providing funding for what is called the Gulenist Terror Organization, headed by U.S.-based preacher Fetullah Gulen, who is said to have infiltrated Turkey’s state apparatus with thousands of followers in an effort to overthrow the government.

Squads from Istanbul Police's Organized Crime Branch and riot police intervened with tear gas and water cannon to disperse the protesters attemting to block the entry into the building.

At least five protesters were taken into custody and the panel of trustees managed to enter the building under police escort.

Ortaklar Street -- where Koza Ipek headquarters is located -- was partially closed to traffic following the incident.

Koza Ipek Holding is accused of having a role in the launch of a corruption investigation in December 2013 that targeted government ministers.

Chairman Akin Ipek is believed to have left Turkey before police raided his companies’ premises last month.