Turkey's Capital Markets Board liquidates 131 funds amid manipulation probe

Capital Markets Board investment fund liquidation market manipulation investigation Borsa Istanbul financial fraud

The Capital Markets Board (SPK) has initiated the liquidation of 131 investment funds, involving over 500,000 investors and assets exceeding 800 billion lira. The liquidation process, which affects seven portfolio management companies including Tera Portföy, Pusula Portföy, Hedef Portföy, Atlas Portföy, A1 Capital Portföy, Pardus Portföy, and Bulls Portföy, will be managed by İş Bankası and Ziraat Bankası.

Simultaneously, authorities are conducting extensive investigations into suspected market manipulation and suspicious transactions within the capital markets. Justice Minister Akın Gürlek reported that 20 individuals have been arrested, including fund board chairmen and members, while 51 others face judicial control measures, including bans on traveling abroad. Additionally, 246 social media accounts have been blocked for allegedly spreading speculative content intended to cause panic among investors.

As part of these regulatory actions, the SPK has also imposed a two-year trading ban on Pusula Portföy regarding Katılımevim (KTLEV) shares and has temporarily closed several funds from the TEFAS platform. To mitigate market risks, the minimum equity protection ratio for leveraged transactions has been adjusted from 35 percent to 20 percent until October 2, 2026.

Entities

Akın Gürlek · Atlas Portföy · Borsa İstanbul · Capital Markets Board · Capital Markets Board of Turkey · Istanbul Chief Public Prosecutor's Office · Katılımevim · Katılımevim Tasarruf Finansman AŞ · Muhammed Yarız · Pusula Portföy · Pusula Portföy Yönetimi AŞ · Sermaye Piyasası Kurulu

Claims

What the coverage asserts, and how many sources carry each claim.

[● 8 SOURCES] Tera Portföy experienced defaults in its Equity (TL) Fund and Money Market (TL) Fund. www.tr724.com
[● 7 SOURCES] Tera Portföy changed the unit share value calculation frequency for six funds to once a month on the 15th day. www.tr724.com
[● 2 SOURCES] Pusula Portföy announced defaults in redemption payments for some of its investment funds. www.yenivatan.at
[● 3 SOURCES] Atlas Portföy will pay redemption proceeds five business days after the valuation date. halktv.com.tr
[● 7 SOURCES] For six Tera Portföy funds, redemption payments will now be made on the 10th business day following the valuation date. www.tr724.com
[○ 1 SOURCE] Tera Yatırım is in the process of acquiring Pusula Group, but the transaction is not yet legally or physically complete.
[● 6 SOURCES] The changes made by these fund managers are in response to new regulations issued by the Capital Markets Board on August 28, 2026. www.tr724.com
[● 2 SOURCES] Atlas Portföy changed its DFI fund to calculate unit share value once a month on the 15th business day.
[● 4 SOURCES] The Capital Markets Board filed a criminal complaint against Tera Portföy manager İbrahim Bekçi.
[● 6 SOURCES] The Capital Markets Board imposed a two-year trading ban on Pusula Portföy and several fund managers. www.tigrishaber.com
[● 11 SOURCES] The Capital Markets Board decided to liquidate 131 investment funds. www.korkusuz.com.tr · www.kocatepegazetesi.com · anlatilaninotesi.com.tr · www.trabzonhabermerkezi.com · www.ogunhaber.com · +5 more
[● 5 SOURCES] The minimum equity protection ratio for leveraged capital market transactions was reduced from 35 percent to 20 percent. artigercek.com · www.trabzonhabermerkezi.com · www.kocatepegazetesi.com · www.ogunhaber.com