Former Türkiye Sigorta GM Çakmak's Chief of Staff Personnel Detained in Fund Investigation

Fahri Uğur and Hakan Eryılmaz, chief of staff personnel of Taha Çakmak, former General Manager of Türkiye Sigorta and Türkiye Hayat ve Emeklilik, were detained as part of a fund and stock investigation. Çakmak provided testimony during the investigation process and resigned from his position as general manager on October 15.

Ümit Özlale, YENİ Party Deputy from Izmir, directed a series of questions at Çakmak via social media. In one of his direct questions, Özlale asked: whether Çakmak was aware that a 15.5 million-lot Türkiye Sigorta position was held in the same portfolio with Cherry Mining and TERA/Target shares mentioned in the investigation into which his chief of staff members were detained today, at an account in Artsmrkts Ltd established in Saint Vincent in the Caribbean.

Özlale's questions cover the following topics: whether Çakmak opened a personal customer account at TERA Yatırım using his BDDK corporate email address; whether transactions were conducted through London-based GildenCrest (Tera Europe) and Switzerland's Century City Securities in his own name or in another's name; whether he executed sales from his own portfolio during the periods when the state-linked companies he managed made investments in these funds; whether it has been investigated whether privileged investors' early exit was financed while the 100 million TL invested by public companies remained trapped in the fund.

Reminding that Çakmak previously held positions as Deputy Chairman of BDDK and the Central Bank of the Turkish Republic, Özlale emphasized that Çakmak is a name whose signature appears on the 50 TL banknotes in our pockets.