Detention numbers rise to 31 in fund investigation; measures imposed on assets of 351 individuals and 102 entities

In the Istanbul-based fund investigation, five more people were detained, bringing the total number of detention orders to 31. Justice Minister Akın Gürlek announced on X on October 21 that bank accounts for 351 individuals and 102 legal entities have been frozen, assets seized, and real estate transfers blocked.

The Capital Markets Board (SPK) had issued a liquidation decision on September 17 for 131 investment funds belonging to TERA, PUSULA, HEDEF, ATLAS, A1, PARDUS, and BULLS PORTFÖY companies. Justice Minister Gürlek had previously announced on October 9 that 187 billion lira in unlawful fund gains were identified.

Of the 31 detention orders issued on October 21, 26 were executed; among the new detainees were individuals linked to Işıklar Enerji and Yapı Holding. In the Istanbul Chief Prosecutor's investigation, 85 people are currently in custody, including company and portfolio managers as well as a former deputy governor of the Central Bank.

On October 14, Treasury and Finance Minister Mehmet Şimşek authorized an investigation into former SPK Chairman İbrahim Ömer Gönül at the Chief Prosecutor's request. On October 19, Treasury and Finance Vice Minister Osman Çelik requested retirement while SPK Chairman Mahmut Sütcü submitted his resignation citing health reasons.