Astor Enerji fund investigation and asset freezes

Astor Enerji disclosed that it holds 376,611,868 TL in three funds currently undergoing liquidation by the Capital Markets Board. The company clarified it has no investments in Tera Group or Pusula Group companies. While the company’s commercial operations remained uninterrupted, judicial authorities had previously imposed restrictions on the personal assets and accounts of 42 individuals, including Chairman Feridun Geçgel and Enver Geçgel.

By late October 2026, the Istanbul Chief Public Prosecutor’s Office lifted the asset freezes and freezing orders against Feridun and Enver Geçgel. These restrictions were part of a broader investigation into the collapse of 131 investment funds that failed to meet redemption requests. Although the company did not explicitly link the lifting of the freezes to specific payments, reports suggest the brothers may have contributed a combined 5 billion TL to a voluntary repayment account at the Savings Deposit Insurance Fund (TMSF) established for those involved in the investigation.