Capital Markets Board begins liquidation of 131 investment

Fon yöneticisi ve holding patronlarının mal varlıklarına tedbir konuldu — Photo: Tele2 Haber

Economy World press 33 sources 19 Sept, 09:37

Differing figures on number of arrests in capital markets investigation

Justice Minister Akın Gürlek announced that suspects, including a fund management board chairman and members, were arrested over allegations of manipulative trading, and 51 people were banned from leaving the country; access to 246 social media accounts was blocked.

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Where reports differ

State media and foreign press TRT Haber and DW Türkçe reported in their headlines that a total of 20 suspects were arrested.

Opposition and independent press Tele2 Haber and Bloomberg HT, citing Gürlek's statement, highlighted that 4 suspects were arrested and 51 people were subjected to a travel ban.

Akın Gürlek Istanbul Chief Public Prosecutor's Office Capital Markets Board (SPK) Cybersecurity Directorate

Sermaye Piyasası soruşturmasında tutuklanan Destek Holding’in patronu Altunç Kumova’nın ifadesi ortaya çıktı — Photo: Ekonomim

Economy 19 sources 19 Sept, 19:40

In his testimony, Kumova described his deal with Tera Yatırım over the IPO

Altunç Kumova, the major shareholder of Destek Holding who was arrested in the investigation, said they agreed with Tera Yatırım on a 2% commission for Destek Faktoring's initial public offering (IPO), and that 20% of the IPO was purchased by Tera Group companies and qualified investors. He described the valuation rising to 1.3 trillion lira (TL) as an "abnormal figure."

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Altunç Kumova Destek Holding Destek Faktoring Tera Yatırım Istanbul Chief Public Prosecutor's Office Capital Markets Board (SPK)

Son Dakika | Destek Yatırım Bankası’nın patronu Altunç Kumova tutuklandı — Photo: Halk TV

Economy 16 sources 19 Sept, 18:46

Destek Investment Bank Chairman Kumova arrested

Altunç Kumova, who was detained on September 17 as part of the Istanbul Chief Public Prosecutor's Office investigation into irregular capital market transactions, was arrested. In the course of the process, the Capital Markets Board (SPK) had ordered the liquidation of 130 funds belonging to 7 companies.

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Altunç Kumova Destek Investment Bank Istanbul Chief Public Prosecutor's Office Capital Markets Board (SPK) Hedef Holding

Boykot yapanlara ‘vatan haini’ demişti… Fon skandalındaki isim Başbakan danışmanıymış! - Sözcü Gazetesi — Photo: Sözcü

Economy 4 sources 19 Sept, 20:12

Names in Tera management in spotlight after Capital Markets Board liquidates 131 funds

Following the Capital Markets Board (SPK) decision to liquidate 131 funds traded on TEFAS belonging to 7 portfolio management firms, the executives of Tera Portföy and Tera Yatırım are being discussed; Sözcü noted that serving in management does not constitute an accusation of wrongdoing in itself.

State State Pro-government Pro-gov Independent Indep. Opposition Opp. Foreign Foreign

Capital Markets Board (SPK) Tera Portföy Yönetimi Tera Yatırım Menkul Değerler Emre Alkin Kerem Alkin Abdülkadir Özkan Public Disclosure Platform (KAP)

Month	y/y	m/m
Sept 2025	33.29% y/y	3.23% m/m
Oct 2025	32.87% y/y	2.55% m/m
Nov 2025	31.07% y/y	0.87% m/m
Dec 2025	30.89% y/y	0.89% m/m
Jan 2026	30.65% y/y	4.84% m/m
Feb 2026	31.53% y/y	2.96% m/m
Mar 2026	30.87% y/y	1.94% m/m
Apr 2026	32.37% y/y	4.18% m/m
May 2026	32.61% y/y	1.71% m/m
Jun 2026	32.11% y/y	0.99% m/m
Jul 2026	31.75% y/y	1.78% m/m
Aug 2026	31.51% y/y	1.84% m/m

Capital Markets Board begins liquidation of 131 investment funds, Şimşek says "no systemic risk"

News sources 25 sources

Who is in this story

Then and now 1 USD in lira

Capital Markets Board begins liquidation of 131 investment funds, Şimşek says "no systemic risk"

News sources 25 sources

Who is in this story

Related

Differing figures on number of arrests in capital markets investigation

In his testimony, Kumova described his deal with Tera Yatırım over the IPO

Destek Investment Bank Chairman Kumova arrested

Names in Tera management in spotlight after Capital Markets Board liquidates 131 funds

WSJ assesses Türkiye's investment fund crisis and liquidation of 131 funds

Five executives from Pusula and Tera detained in fund investigation

Then and now 1 USD in lira