Turkish investment fund scandal

A major financial scandal involving capital market funds in Turkey has emerged, centered on allegations of negligence and market manipulation. Saadet Party Chairman Mahmut Arıkan initially alleged that an 11-month delay in official intervention after market manipulation was identified in November 2025 resulted in a loss of 525 billion lira. Arıkan demanded a “roadmap of the money” to identify the true beneficiaries of the funds.

As the situation developed, investigations expanded to include allegations of excessive commissions, with claims that some fund managers received rates as high as 30 percent. The probe is examining whether profits were diverted to connected individuals while investors suffered losses. The crisis has impacted approximately 455,000 savers.

In response, the Turkish government is reportedly discussing a graduated payment plan to compensate creditors, with a focus on prioritizing small savers with claims under 1 million lira. The scandal has also taken on a political dimension, with the YENİ Party alleging that former minister Fatma Betül Sayan Kaya and her spouse benefited from the funds through multiple accounts.