Turkish Vice President Yilmaz: No Public Funds Will Be Used to Compensate Investment Fund Scandal Victims

Turkish Vice President Cavit Yilmaz announced that the government will not resort to public resources to cover losses from what is known as the "investment fund scandal," affirming that the legal process will determine the fate of recovered funds.

Yilmaz clarified that precautionary measures were issued against 7 companies and 131 funds, and that troubled funds are currently in quarantine. He noted that approximately 44,000 victims have received their payments so far, pointing out that additional partial payments will be executed during the current month.

Yilmaz explicitly set the compensation criterion: invested capital is the basis, and whoever recovered profits exceeding their capital will not be considered a victim, just as anyone who recovered their actual net investment will not be counted as a victim.

The vice president revealed that four meetings regarding the funds have been held so far, and that a parliamentary committee will discuss fund legislation on Wednesday. He also reported that 15 auditors and inspectors, alongside the board of state oversight, are conducting a comprehensive review of all relevant bodies. He affirmed that investigations are continuing against those who realized "exorbitant" returns or gained illegal profits through transactions that violated the law.