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Borsa İstanbul General Manager Korkmaz Enes Ergun detained in fund probe
Korkmaz Enes Ergun, general manager of Borsa İstanbul AŞ, was detained on charges of membership in an organization established to commit crimes and bribery as part of a fund investigation conducted by the Istanbul Chief Public Prosecutor’s Office.
A fund investigation into capital markets transactions conducted by the Terrorist Financing and Money Laundering Crimes Investigation Bureau of the Istanbul Chief Public Prosecutor’s Office has reached Borsa İstanbul’s top management. Korkmaz Enes Ergun, general manager of Borsa İstanbul AŞ, was detained on the evening of October 31.
In a written statement, the Chief Public Prosecutor’s Office said Ergun had been detained on charges of membership in an organization established to commit crimes and bribery, adding that investigative proceedings were continuing. The statement did not provide details about the specific transactions underlying the allegations.
It has not yet been announced whether Ergun will be referred to the courthouse after procedures at the police station. Borsa İstanbul has also made no statement on the detention.
He said in Parliament that “we fulfilled our duty”
On October 15, Ergun answered questions about the fund crisis at the Grand National Assembly of Türkiye’s Planning and Budget Commission. He said Borsa İstanbul had submitted the required notifications to the Capital Markets Board (CMB) and that the institution had fulfilled its responsibilities.
Number of people remanded in custody reaches 120
On September 17, the CMB halted transactions involving 131 investment funds affiliated with an asset management company and initiated the liquidation process. These funds had 455,758 investors.
The number of people remanded in custody in the investigation has reached 120. Those detained include former CMB Department Head Erman Çete, Altınbaş Holding executives İnan Altınbaş and Nusret Altınbaş, and former Türkiye Sigorta General Manager Taha Çakmak. CMB Chair Mahmut Sütçü was dismissed in October, while the Chief Public Prosecutor’s Office applied to the Ministry of Treasury and Finance for permission to investigate former CMB Chair İbrahim Ömer Gönül over alleged abuse of office.
Spent his career in the stock market
Ergun graduated from Ankara University’s Faculty of Political Sciences, Department of Business Administration, and began working at Borsa İstanbul in the year he graduated. He completed his master’s degree and doctorate in the Department of Economics at Marmara University. In addition to serving as general manager, Ergun also held the positions of deputy chair of Takasbank’s Board of Directors and member of the World Federation of Exchanges (WFE) Board of Directors.
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