Ex-Turkish Central Bank Official Detained Over Ponzi Fraud
Irkhan Kilimci, the former deputy governor of the Central Bank of Turkey, has been arrested on Ponzi scheme charges as part of an extensive investigation that was launched after the Turkish markets were impacted and investor confidence declined. Kilimci had announced his resignation three months after taking office. Around 45 individuals have been detained, including the CEO of Tera Holdings, amidst the fallout from the collapse of some asset management companies, which affected approximately half a million investors and led to the freezing of assets belonging to officials connected to the case. These developments come amidst significant turmoil in the Turkish market last week and are prompting authorities to review financial auditing and accountability procedures.
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