New detentions on November 7 brought banking regulator deputy chairman Muhammet Erişen and senior market executives into Türkiye’s fund investigation. Bulls Yatırım chairman Kemal Akkaya and Takasbank general manager Yunus Arıncı were detained again after earlier releases. The inquiry accompanies a liquidation process that has affected more than 455,000 investors across 131 funds.
Bulls Yatırım chairman Kemal Akkaya and Takasbank general manager Yunus Arıncı were detained again on November 7 in Türkiye’s investment-fund investigation. Akkaya had given a statement to prosecutors and been released on September 23. Arıncı’s earlier release had required him to report to authorities and barred him from travelling abroad.[1], [2]
The investigation also brought the detention of Muhammet Erişen, deputy chairman of Türkiye’s Banking Regulation and Supervision Agency, and Mehmed Nureddin Çevik, chairman of Ruzy Madencilik. Separately, former Capital Markets Board deputy chairman Enver Usca was among regulatory executives remanded in custody.[1]
The Capital Markets Board had ordered the liquidation of 131 funds in September, affecting more than 455,000 investors. Some funds defaulted on redemptions and payments as requests to sell increased. The liquidation timetable was extended to limit investors’ losses. October announcements put completed liquidation transactions at about 40.8 billion lira for more than 45,000 people across 66 funds, with Ziraat Bankası carrying out those transactions. Extraordinary liquidation continued at some remaining funds.[1]
