Dozens Arrested in Turkish Fund Crisis Probe
- Turkish authorities detained seven additional suspects linked to Destek Holding and Ozata Gemicilik in an expanding investment-fund investigation involving assets worth more than $17 billion.
- Justice Minister Akin Gurlek said prosecutors were investigating 76 suspects and that 45 had been arrested.
- Prosecutors are examining 131 investment funds managed by seven companies, while Turkey’s Capital Markets Board placed all 131 funds into liquidation after they could not meet investor redemption requests, affecting more than 455,000 investors.
73 Articles
73 Articles
Turkey widens $18B fund probe as fallout hits ruling party, free speech
More than 50 people have been detained in connection with the investigation into the fund scandal, the ruling party’s deputy chair has resigned, and the X accounts of dozens of journalists and economists have been blocked.
After irregularities in the Turkish capital market, the prosecutor's office investigates fraud, violations of the Capital Markets Act and the establishment of a criminal organisation.
The investigation is aimed at heads of organized crime, fraud against the state, violation of the law on financial markets and tax evasion.
Police in Turkey have handcuffed 45 people as part of an investigation into a scandal involving investment funds. At the same time, the country's finance minister dismissed rumors that he was about to resign. In a post on the X platform, Turkish Justice Minister Akin Gurlek announced that "legal action has been taken against 76 suspects, with 45 of them already arrested." He also said that "the assets of all fund owners, as well as those in mana…
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