Istanbul - An Istanbul court has issued an arrest warrant for Cem Uzan, an industrialist and former media magnate, who is currently seeking asylum in France.

It became the second arrest warrant issued for Uzan, who is suspected of embezzlement and of violating banking laws.

Uzan is the former owner of the Star media group, which was subsequently seized by the government, and founder of the right-wing populist Young Party (GP).

The Uzan family was once one of Turkey's wealthiest, but has faced severe legal problems in recent years. A court in New York ruled in 2002 that the Uzans - once owners of Turkey's second-largest mobile phone company - owe Nokia and Motorola 4.8 billion dollars, most of which remains unpaid.

In 2003, Turkey took over two banks owned by Uzan family, after they were accused of siphoning funds from the institutions.

Despite having a travel ban issued against him, Uzan managed to make it to France last week. French officials have said no decision has been made yet regarding his asylum request.(dpa)