Turkish authorities launch major investigation into investment fund scandal

On September 25, 2026, Turkish authorities announced a large-scale investigation into a major investment fund scandal involving allegations of market manipulation and investor deception. Minister of Justice Akin Gurlek confirmed that legal proceedings have been initiated against 76 suspects, 45 of whom have already been arrested, including former Central Bank deputy governor Erkan Kilimci. The investigation focuses on 131 investment funds managed by seven companies, with assets totaling over 826 billion Turkish lira, approximately 15 million euros.

To facilitate the investigation, authorities have seized the assets of all fund owners and executives in managerial positions, while also freezing the assets of their immediate family members. Turkish President Recep Tayyip Erdogan has vowed that those responsible will face the full extent of the law, urging citizens to remain calm and warning against exploitation of the situation. Meanwhile, media outlets, including the pro-government Yenisafak, are calling for a transparent investigation, citing risks of political instability if accountability is not achieved.

Political observers and commentators are demanding further clarity on supervisory failures and potential preferential treatment for specific individuals. As the investigation continues, officials maintain that the process will be thorough, while the Minister of Finance has formally rejected rumors regarding his own potential resignation.