Turkey Faces Funds Crisis with Frozen Assets
Turkish authorities have uncovered violations in the financial market, freezing the assets of 42 individuals and 46 legal entities as part of investigations into misconduct, forgery, and violations of securities laws. Additionally, 45 people—including executive directors—have been arrested. Investigations indicate the formation of a criminal organization and an overvaluation of investment fund assets, with 131 funds being liquidated, amounting to billions of lira, causing harm to more than 455,000 investors. Turkish President confirmed that the crisis is confined to a limited sector and does not threaten the financial system or the overall economy.
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