(VOVworld) – The biggest state-owned bank on Turkey’s stock market plunged the most on record on Wednesday after its deputy chief executive was arrested in the US, accused of using his position at the bank to help facilitate evasion of US sanctions on Iran. If convicted, the charges carry a maximum sentence of 50 years in prison.  

This handout photo taken and released by the Turkish Presidential Press Service on March 30, 2017 shows Turkish President Recep Tayyip Erdogan (R) shaking hands with US Secretary of State Rex Tillerson (L) for a meeting at the Presidential Complex in Ankara. / AFP PHOTO / TURKISH PRESIDENTIAL PRESS SERVICE / KAYHAN OZER /

The case would cause tension in Turkey-US relations prior to US State Secretary Rex Tillerson’s visit to Turkey on Wednesday.