Taha Çakmak arrested on allegations of $1 million bribery; total detainees reaches 99

In the fund investigation, Taha Çakmak, former General Manager of Turkey Insurance and Turkey Life Pension, was taken into custody. Çakmak faced various charges, including allegations that he received $1 million in cash from Tera in exchange for Turkey Insurance's fund investments.

Çakmak, who previously served as Deputy Governor of the Central Bank and Deputy Head of the Banking Regulation and Supervision Agency, gave his first statement on October 14 as part of the investigation. A travel ban was imposed on Çakmak, and he resigned from his position on October 15. His chief advisor Fahri Uğur was also taken into custody on October 22.

During the same period, 11 additional suspects were arrested in the investigation, house arrest was ordered for 4 individuals, and 20 suspects were referred to the judiciary. As the number of detainees reached 99, at least 45 suspects remain under search, including Nusret Altınbaş, Vice Chairman of the Board of Altınbaş Holding.

The Capital Markets Board also filed criminal complaints against 48 individuals employed in the management of Tera Investment, Tera Portfolio, and Compass Portfolio.