Istanbul capital markets probe sees 20 more arrests

capital markets investigation fund liquidation money laundering investor compensation Turkish financial crime

An investigation by the Istanbul Chief Public Prosecutor's Office into capital market transactions has led to the arrest of 20 additional suspects, bringing the total number of detainees to 85. The probe, conducted by the Terrorism Financing and Money Laundering Crimes Investigation Bureau, is targeting financial activities involving companies such as Pusula Finans Holding, Tera Yatırım, Hedef Holding, and Bulls Yatırım.

Authorities have requested detailed financial data from MASAK, including identity information of executives and records of all domestic and international money and crypto asset transfers made since the beginning of 2024. One investigation revealed fund outflows exceeding 3 billion TL linked to a single individual.

Parallel to the criminal proceedings, efforts are underway to compensate approximately 455,758 investors affected by the liquidation of 131 funds ordered by the Capital Markets Board (SPK). A proposed compensation formula involves returning the principal amount adjusted for the Consumer Price Index (CPI) to account for inflation. Advance payments are expected to begin once the Central Securities Depository (MKK) and bank records are reconciled.

Entities

Capital Markets Board of Turkey · Destek Yatırım Bankası · Istanbul Chief Public Prosecutor's Office · MASAK · Pusula Finans Holding AS · Tera Yatırım Holding · Tera Yatırım Menkul Değerler AŞ

Claims

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

[● 7 SOURCES] The investigation targets transactions in the capital markets. www.cnbce.com · www.turkgun.com · www.benguturk.com · www.haberaktuel.com · sanayigazetesi.com.tr · +2 more
[● 7 SOURCES] 20 suspects were arrested in the latest round of the investigation. www.cnbce.com · www.turkgun.com · www.benguturk.com · www.haberaktuel.com · sanayigazetesi.com.tr · +2 more
[● 7 SOURCES] The prosecutor requested financial data regarding managers of Pusula Finans Holding, Tera Yatırım, Hedef Holding, and Bulls Yatırım. www.cnbce.com · www.turkgun.com · www.benguturk.com · www.haberaktuel.com · sanayigazetesi.com.tr · +2 more
[○ 1 SOURCE] Financial investigations identified fund outflows totaling over 3 billion TL for one individual. www.haberaktuel.com
[● 7 SOURCES] The investigation includes tracking money and crypto asset transfers made abroad since 2024. www.cnbce.com · www.turkgun.com · www.benguturk.com · www.haberaktuel.com · sanayigazetesi.com.tr · +2 more
[● 2 SOURCES] A formula of 'principal + CPI' is being considered for compensating fund victims. www.gazetepencere.com · www.borsaningundemi.com
[● 2 SOURCES] The liquidation process affects 131 funds and approximately 455,758 individual investors. www.gazetepencere.com · www.borsaningundemi.com
[● 3 SOURCES] The total number of arrested individuals in the fund investigation has reached 85. www.cnbce.com · www.benguturk.com · www.yenicaggazetesi.com