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[SITUATION] · [ACTIVE] · [BUSINESS]

2 clusters · 101 sources · 21 days · First seen · Last updated

Istanbul capital markets investigation

Overview

The Istanbul Chief Public Prosecutor's Office investigation into capital market transactions, money laundering, and terrorism financing has expanded, with the number of arrests rising to at least 51 individuals. The probe continues to involve major entities including Pusula Finans Holding, Tera Yatırım Menkul Değerler, Hedef Holding, Bulls Yatırım, A1 Capital, Atlas Menkul Kıymetler, and Pardus Menkul Kıymetler. High-profile detainees include Serdar Turhan (Chairman of Pusula Holding), Emre Tezmen (Chairman of Tera Yatırım Holding), and Erkan Kilimci, a former Deputy Governor of the Central Bank of the Republic of Türkiye and CEO of Tera Holding. Authorities have frozen approximately 750 million TL in cash and seized luxury assets, including two private jets, a luxury yacht, and high-value vehicles, with the seized assets valued at approximately 1.08 billion TL. These seizures extend to assets belonging to suspects and their first-degree relatives. Prosecutors are scrutinizing MASAK data regarding foreign currency and cryptocurrency transfers made by executives since early 2024. To further trace the flow of funds, the Prosecutor's Office has requested detailed investor and transaction records from the Central Securities Depository of Turkey (MKK). Investigators are specifically focusing on investor activity and exits from certain funds during the critical three-month period of July through September 2026, as well as records from the funds' inception until their liquidation. New developments indicate the investigation is targeting allegations that certain investment funds were used to artificially inflate stock prices, in some instances by as much as 100 times. This has led the Capital Markets Board (SPK) to order the liquidation of 131 investment funds from seven portfolio management companies, a move affecting over 455,000 investors. Authorities have requested asset freezes for 46 legal entities, 18 funds, and 42 individuals, including executives from Tera Portföy, Pusula Portföy, and Astor Enerji.

Entities

MASAK · Muhammed Yarız · Serdar Turhan · Irfan Yılmaz · Tera Holding

Claims

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

Coverage disagrees

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Timeline

  1. 3 days ago

    [BUSINESS] 100 sources
    Turkey investigates major capital market manipulation and fund liquidation scandal

    Turkish authorities are investigating a massive capital market manipulation scandal involving 131 investment funds, leading to numerous arrests and the liquidation of funds affecting over 455,000 investors.

  2. 24 days ago

    [CRIME] 2 sources
    Ankara prosecutors issue detention order for İrfan Yılmaz in Süleymancılar probe

    Turkish authorities have issued a detention order for İrfan Yılmaz and seized five companies as part of a financial investigation into the ‘Süleymancılar’ religious group.

Sources

aksam.com.tr · aksiyon.com.tr · anlatilaninotesi.com.tr · artigercek.com · aydinlik.com.tr · aydinpost.com · benguturk.com · boldmedya.com · bolgegundem.com · borsagundem.com · borsagundem.com.tr · bursahakimiyet.com.tr · bursatv.com.tr · cnbce.com · cumhuriyet.com.tr · demagog.cz · diken.com.tr · diyarbakiryenigun.com · dokuz8haber.net · doviz.com · ekz.ch · ertnews.gr · f5haber.com · finans.mynet.com · finanznachrichten.de · gazeteabc.com · gazetedamga.com.tr · gazetepencere.com · gazeteyenisoz.com · gercektaraf.com · guneydoguekspres.com · gzt.com · haber1.com · haber16.com · haberaktuel.com · habermeydan.com · haberport.com · haberx.com · haksozhaber.net · halktv.com.tr · indyturk.com · istanbulgazetesi.com.tr · izgazete.net · kanalben.com · karar.com · karsmanset.com · kentgazetesi.com · kibrisgazetesi.com

This summary has been updated 13 times: see revision history