Turkey freezes assets of 88 entities
The Turkish authorities announced the freezing of assets belonging to 42 individuals and 46 legal entities as part of expanded investigations into alleged violations in the capital market, following the recent investment fund crisis that occurred in the country over the past few weeks. This came after the detention of at least 45 people, including officials from investment companies. The investigation focuses on suspicions of forgery, violations of financial market laws, and the formation of a criminal organization. Over 455,000 investors were affected after 131 investment funds, with assets totaling billions of lira, were liquidated due to allegations of asset inflation. Meanwhile, the Turkish President confirmed that the crisis is limited to a small sector and does not threaten the financial system or the overall Turkish economy.
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