Story perspectives

Turkey Begins Interim Payments to Investors After 131 Fund Liquidations

By Drooid · Oct 2, 2026, 10:40 PM UTC · How we work

Summary

Story summary

Turkey's market regulator (SPK) began interim payments to investors in more than 100 liquidated funds.
Regulators ordered liquidation of 131 funds, covering over $20 billion in assets and half a million investors.
Tera Portfoy and Pusula Portfoy each grew to over $14 billion, becoming the sector’s largest non-bank managers.
Justice Minister Akin Gurlek reported 217 suspects identified, with 56 jailed pending trial for alleged manipulation.

History

Historical Context

In December 2008 the U.S. SEC finally halted Bernard Madoff Investment Securities after prosecutors revealed a Ponzi scheme that had swindled about $65 billion from roughly 4,800 investors. The collapse spurred worldwide regulators to tighten oversight, prompting Turkey’s Capital Markets Board to order the liquidation of 131 funds covering over $20 billion and to pursue more than 200 suspects.

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Story summary

Turkey's market regulator (SPK) began interim payments to investors in more than 100 liquidated funds.
Regulators ordered liquidation of 131 funds, covering over $20 billion in assets and half a million investors.
Tera Portfoy and Pusula Portfoy each grew to over $14 billion, becoming the sector’s largest non-bank managers.
Justice Minister Akin Gurlek reported 217 suspects identified, with 56 jailed pending trial for alleged manipulation.

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