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Türkiye's investigation into the investment fund scandal now covers 464 suspects, with 120 people under arrest and about ₺31.5 billion ($627.6 million) in money, property and shares returned through a voluntary repayment scheme, Justice Minister Akin Gurlek said Monday.
"As of Nov. 9, 2026, there are 464 suspects in the investigation. One hundred twenty people are under arrest, and judicial control measures have been applied to 262 people," Gurlek told Parliament’s Planning and Budget Committee while presenting his ministry’s 2027 budget.
Detention warrants have been issued for 40 fugitive suspects, and assets of 386 individuals and 116 legal entities have been frozen, with their bank accounts blocked, he added.
"Gains assessed to have been obtained from crime are being traced, and legal mechanisms are being used to bring back assets taken abroad," Gurlek said.
Payments have been made to citizens from funds whose liquidation is complete, with work continuing on others, he added. "However, I want to state clearly that voluntary repayment alone does not remove legal liability," Gurlek said, adding that investigations into the people and transactions involved continue.
He said money flows, financial links and asset transfers are being examined on the basis of concrete evidence, while institutions operating lawfully and investors with legitimate gains are being carefully separated from the alleged offenses.
"The hand of the rule of law is capable of grabbing the collar of all criminal groups reaching into our citizens’ pockets. While carrying out this fight, we will also carefully protect the presumption of innocence and legal safeguards," the Turkish minister said.
"We will continue to provide transparent information at every stage. With this understanding, wherever it leads, we will pursue unlawful gains and the responsibilities linked to them," he added.
The probe, led by the Istanbul Chief Public Prosecutor’s Office’s Terrorism Financing and Laundering Crimes Investigation Bureau, also covers links extending to oversight mechanisms, Gurlek said.
The investigation stems from a mid-September market crisis, when several investment funds failed to meet redemption requests, triggering a major sell-off.
The Capital Markets Board (SPK) subsequently ordered the liquidation of 131 funds run by seven portfolio management companies, and prosecutors examined trading in 26 Borsa Istanbul stocks for suspected manipulation.
On Nov. 3, Gurlek said 112 people were in custody among 433 suspects. Former Borsa Istanbul General Manager Korkmaz Enes Ergun was arrested on bribery charges that week, and former Family Minister Fatma Betul Sayan Kaya was arrested Friday on charges of violating capital markets law and membership in a criminal organization, while former SPK Chairman Ibrahim Omer Gonul was released under judicial control.
Earlier Monday, a court ordered the arrest of Banking Regulation and Supervision Agency (BDDK) Deputy Chairman Muhammet Erisen and Adil Katilim Bank General Manager Murat Yonac.
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