The scandal affects 455,000 investors and has led to 56 arrests for market manipulation. Current investigations have reached the top of the political establishment, with prosecutors attempting to seize assets from former AK Party Deputy Chair Fatma Betul Sayan Kaya, who resigned over insider trading allegations. The fallout extends to international holdings, as Norway's sovereign wealth fund has $208 million invested in 10 Turkish companies currently under probe.
Tuesday, October 20, 2026
Story
Turkey AKP Blocks Opposition Probe Into $18.3B Fund Scandal
Global Markets11 days ago
The governing party of Turkey vetoed every request from five opposition factions to hold a parliamentary inquiry into a crash that wiped out billions in asset values. The AK Party's block on these investigations comes as its lawmakers push a draft law requiring portfolio-firm managers to be held legally responsible for recovering lost capital and repaying trapped investors. The domestic crisis has frozen 131 investment funds and erased at least $18.3 billion in total assets.
Looking for more context or analysis?
Tilt chat provides reliable, tailored insights, alerts, and automations.