SPK liquidates 131 funds as Turkey probe expands
Officials said 15 more suspects were detained as investigators examined bank accounts, crypto assets and company managers’ relatives.
Mateo Fernandez ·
Sermaye Piyasası Kurulu ordered 131 investment funds liquidated after a market-manipulation probe widened, putting fund recoveries and listed shares under scrutiny. Reaction pending.
Officials said 15 more suspects were detained in a new operation after weekend raids, while efforts continued to locate 10 suspects still at large. The investigation is being run by the İstanbul Cumhuriyet Başsavcılığı Terörizmin Finansmanı ve Aklama Suçları Soruşturma Bürosu.
Katılımevim trades draw scrutiny
Officials said the case centers on alleged irregular transactions in Katılımevim shares and linked brokerage activity. MASAK reports also put bank accounts, crypto assets and first-degree relatives of company managers under review as authorities seek to prevent assets from being moved abroad.
The equity-market issue is whether the liquidation of 131 funds forces selling in affected holdings or locks investors into a slower recovery process. Without a fund-by-fund list, the direct exposure across Borsa İstanbul remains unclear.
If authorities publish asset freezes and liquidation schedules quickly, the immediate effect would be to narrow uncertainty around recoveries, with spillovers concentrated in the named shares and intermediaries. If disclosures remain partial, liquidity risk may spread across funds viewed as exposed to smaller-cap or manipulated stocks.
By September 22, 2026, the next equity call is whether officials provide a timetable for the 131 fund liquidations and identify which listed holdings are affected.