Istanbul Chief Prosecutor's Office Detains Ertan Aydın and Gürol Sami Özer in Fund Investigation

Within the scope of the Istanbul Chief Prosecutor's Office capital markets investigation, former AK Party lawmaker, former prime ministerial adviser, and research-campaign firm founder Ertan Aydın, along with Turkey Insurance Deputy General Manager Gürol Sami Özer, have been detained.

A peace court initially issued judicial control measures against Aydın in the form of "residence restriction" and "ban on foreign travel." After the prosecutor's office appealed this decision, the court issued an arrest warrant; Aydın was taken into custody in Ankara and detained.

Özer was detained following his apprehension. Within the scope of the investigation, Turkey Insurance's former General Manager Taha Çakmak had also been detained previously.

At the center of the investigation are the cash inflows and outflows that Turkey Insurance made into Tera Investment funds. According to allegations, substantial irregular profits were obtained in the funds; it is also claimed that personal transactions were conducted through Tera Group and that cash was received in hand in exchange for Turkey Insurance's investment in the fund.

The investigation gained momentum in September. On September 17, the CMB decided to liquidate 131 funds affecting more than 455,000 investors. Between September 18-22, five people, including Pusula Holding executive Serdar Turhan and Tera Investment Holding executive Emre Tezmen, were detained; 51 people were banned from leaving the country. On September 24, two private jets and one yacht valued at approximately 1.8 billion TL were seized by court order.