Ali Babacan criticizes fund fraud investigation and oversight

Ali Babacan, Chairman of the DEVA Party, has raised concerns regarding the investigation into fund fraud companies. During a group meeting, Babacan questioned why state institutions, capable of tracking individual rental incomes for tax purposes, failed to detect multi-billion dollar fraud operations. He criticized a proposed law that grants the Capital Markets Board (SPK) significant authority over liquidation and valuation processes despite the board's involvement in the scandal.

Babacan argued that a healthy management of the situation is impossible without removing officials responsible for oversight and supervision. He described a ‘triangle of interests’ consisting of fraud networks, political supporters, and bureaucratic enablers, calling for investigations into those within the government and bureaucracy who may have supported the fraudulent activities.