Justice minister: 85 detained in fund probe as 'Terror-Free Türkiye' continues

Justice Minister Akın Gürlek on Tuesday said authorities have detained 85 suspects and targeted 207 individuals in an investigation into alleged manipulation involving investment funds and stocks, stressing that the probe should not undermine confidence in Türkiye's financial markets. Speaking to Anadolu's Editors' Desk in Ankara, Gürlek stated that the investigation was launched following public complaints and tips, as well as an authorization granted by the Capital Markets Board (SPK) to launch the formal probe.

The minister emphasized that prosecutors must distinguish between legitimate and illicit gains, pointing to profits allegedly made through the rapid buying and selling of so-called "bubble stocks." "We noticed this ourselves, and our colleagues wrote to the SPK to request authorization for an investigation," Gürlek said. He added that Treasury and Finance Minister Mehmet Şimşek had also been following the process and that a Fund Coordination Board was established under Vice President Cevdet Yılmaz.

Asset freezes and recovery efforts

Gürlek said the SPK decided on Sept. 17 to liquidate the funds in question, prompting prosecutors to take preventive measures immediately. "So far, 85 suspects have been detained, action has been taken against 207 people, and the assets of many people have been frozen," he stated. He noted that authorities had prevented an attempted transfer of 40 million Turkish liras ($813,345) abroad by the spouse of a detained individual two days after the investigation began.

A mechanism has been established at the Savings Deposit Insurance Fund (TMSF) to allow voluntary returns, with five individuals having already repaid funds, Gürlek said. He warned that repayment does not automatically close criminal cases. "Covering twice the amount of the damage is a reason for effective repentance, but this does not mean that the investigation or the case will be closed," he stated, adding that action will definitely be taken against those who compensate for damages.

'Terror-Free Türkiye' initiative

Gürlek also described the "Terror-Free Türkiye" process as a major priority, saying there would be no reversal. "The Terror-Free Türkiye process is very important for us. We see it as a Türkiye Century project," he said. He explained that the law on strengthening national solidarity passed by parliament earlier this year cannot take effect until the PKK terrorist group is dismantled in all its components.

A Monitoring and Evaluation Board has been established under Vice President Cevdet Yılmaz, with the Defense Ministry, National Intelligence Organization (MIT), and National Security Council working to verify the group's dismantlement, Gürlek said. "There is no turning back from this process; the arrow has flown," he added, noting that authorities hope the completion will allow resources to shift toward investment and employment for young people.