ISTANBUL 

Police launched an Istanbul-based operation to arrest 68 former shareholders of Fetullah Terrorist Organization (FETO)-affiliated Bank Asya on Wednesday morning, nabbing 49 so far, according to a police source.

The bank was recently declared bankrupt.

The nationwide operations had been initiated by a prosecutor's office that specifically targets former shareholders who had authority to elect their executive board and take trade-related and administrative decisions, the source, who spoke on condition of anonymity due to restrictions on talking to the media, said.

The operation was being carried out in 9 provinces.

FETO and its U.S.-based leader Fetullah Gulen orchestrated the July 2016 defeated coup, which left 250 people martyred and nearly 2,200 injured.

Ankara also accuses FETO of being behind a long-running campaign to overthrow the state through the infiltration of Turkish institutions, particularly the military, police, and judiciary.

Reporting by Halil Demir:Writing by Merve Aydogan