Turkey lifts asset freezes on 46 companies in market probe, media reports
- On Monday, Turkish authorities lifted asset-freeze orders on 45 companies and 19 funds following a new assessment by the Capital Markets Board, though restrictions remain for individuals involved in the investigation.
- More than 450,000 investors hold stakes in funds worth more than $18 billion now being liquidated after tighter rules introduced on August 28 triggered heavy withdrawals and market instability.
- Fatma Betul Sayan Kaya, a deputy chair of the ruling AKP, resigned late Saturday after allegations she traded Ozata Denizcilik shares shortly before the market plunged, though she requested claims be clarified.
- President Recep Tayyip Erdogan accepted the resignation on Sunday, with the AK Party stating, "We declare that all those who are involved in irregularities, corruption, abuse or anything that causes harm will be held accountable."
- Justice Minister Akin Gurlek confirmed legal proceedings against those distorting the market will continue, with authorities scrutinizing large share purchases and sales while at least 45 people have been arrested.
39 Articles
39 Articles
Turkish authorities have lifted asset freeze orders imposed on 46 companies in a probe into investment funds. The Istanbul Prosecutor’s Office said the decision was made after a new assessment of the case and updates from the Turkish Capital Markets Board (SPK), according to NTV and other Turkish media. The crisis has weighed on Turkish markets, with the benchmark BIST 100 index down 2.7%, after a 2.9% drop the previous week. The index has now f…
Turkey lifts asset freezes on 46 companies in market probe, media reports
Turkey lifted asset-freeze orders imposed on 46 companies under an investigation into investment funds, media reported on Monday, after a senior figure from President Tayyip Erdogan's party resigned amid the crisis.
Turkey’s fund probe: Asset freezes lifted as AKP deputy chair quits
Turkish prosecutors have lifted asset restrictions on 45 companies and 19 funds amid an investment fund crisis affecting more than 450,000 investors. The decision comes after a deputy chair of President Recep Tayyip Erdoğan’s ruling party resigned amid allegations about her share trading.
Treasury and Finance Minister Mehmet Şimşek, in a statement regarding the fund investigation, said, "We are protecting the legitimate rights of our fund investors in coordination with our Ministry of Justice." Treasury and Finance Minister Mehmet Şimşek made assessments regarding the fund investigation. Şimşek on social media...
It has been reported that asset freezes imposed on some companies as part of the fund investigation have been lifted. Among the companies for which freezes were requested were Pasifik GYO, managed by Fatih Erdoğan, the husband of AKP MP Asuman Erdoğan, and IC İçtaş İnşaat, one of the main contractors for the Akkuyu Nuclear Power Plant. So, who is Fatih Erdoğan? Who is the wife of Fatih Erdoğan, the Chairman of the Board of Pasifik Holding?
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