Turkey liquidates 131 investment funds amid market fraud probe

investment fund liquidation market manipulation investigation TEFAS platform Turkish capital markets investor protection

The Capital Markets Board of Turkey (SPK) is managing the liquidation of 131 investment funds that were suspended from the TEFAS trading platform on September 17, 2026. The process affects approximately 455,758 individual investors and involves funds valued at over $18 billion.

While the SPK's administrative decisions to keep the funds closed and proceed with liquidation remain in effect, the Istanbul Chief Public Prosecutor's Office has lifted judicial asset freezes on 45 companies and 19 funds to prevent further economic damage and allow for the liquidation process. However, investigations into the personal assets and money movements of the individuals suspected of market manipulation and fraud are ongoing.

To address investor grievances, authorities are considering a seven-stage payment formula that categorizes claimants by the amount owed and the risk level of their funds. Meanwhile, the crisis has led to political fallout, including the resignation of AKP Vice Chair Fatma Betül Sayan Kaya following allegations of suspicious stock sales prior to the market downturn.

Entities

Capital Markets Board of Turkey · Fatma Betül Sayan Kaya · Istanbul Chief Public Prosecutor's Office · Mehmet Şimşek · TEFAS

Claims

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

[● 5 SOURCES] The SPK's administrative decisions to keep 131 funds closed on TEFAS and their liquidation remain in effect. www.mersinhaber.com · www.sondakika.com · onedio.com · www.kentgazetesi.com · rayhaber.com
[● 6 SOURCES] On September 17, 2026, 131 funds were suspended from trading on the TEFAS platform. www.mersinhaber.com · www.sondakika.com · onedio.com · www.kentgazetesi.com · rayhaber.com · +1 more
[● 3 SOURCES] There is strong suspicion of market fraud and obtaining criminal proceeds in the investigation. www.mersinhaber.com · www.sondakika.com · onedio.com
[● 2 SOURCES] Judicial measures against legal entities (companies and funds) have been lifted. www.sondakika.com · de.euronews.com
[● 2 SOURCES] Investigations into the assets and money movements of real individuals involved are ongoing. www.mersinhaber.com · onedio.com
[● 3 SOURCES] The SPK sent a letter to the Chief Public Prosecutor's Office regarding the fund investigation. www.mersinhaber.com · www.sondakika.com · onedio.com
[○ 1 SOURCE] There are 455,758 individual investors involved in the 131 funds. www.aydinlik.com.tr
[○ 1 SOURCE] AKP Vice Chair Fatma Betül Sayan Kaya resigned following allegations regarding stock sales before the market crash. de.euronews.com
[○ 1 SOURCE] A 7-stage payment formula based on claim amounts and fund risk levels is under consideration. www.aydinlik.com.tr