Turkish authorities detain 8 in fund investigation probe

The Istanbul Chief Public Prosecutor's Office has conducted a fourth wave of operations as part of an ongoing investigation into fund and capital market transactions. The operation targeted board members of Destek Faktoring A.Ş. and Özata Denizcilik.

Eight suspects have been detained, including the General Manager of Destek Yatırım Bankası, Özgür Akayoğlu. Authorities are currently searching for two remaining suspects: Orhan Aksüt, a board member of Destek Faktoring, and İskender Balcı, a board member of Özata Denizcilik. Reports indicate that İskender Balcı departed for Montenegro on September 26, shortly after resigning from his position.

The investigation aims to uncover the truth regarding suspicious fund movements, identify assets derived from crimes, and protect investor rights. Investigators are examining money and property movements conducted through these companies and their connections to other suspects in the probe. This follows the previous arrest of Destek Holding owner Altunç Kumova in mid-September.