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- October 27, 202614°
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Former SPK department head Erman Çete jailed in fund probe
Erman Çete, former department head at the Capital Markets Board (SPK), was jailed after being detained as part of a fund investigation conducted by the Istanbul Chief Public Prosecutor's Office. Nusret Altınbaş, owner of Altınbaş Holding, was also among those jailed in the investigation.
Erman Çete, former department head at the Capital Markets Board (SPK), was jailed after being detained as part of a fund investigation concerning transactions in the capital markets.
After police procedures were completed, Çete was referred to the Istanbul Courthouse in Çağlayan. Following his statement to the prosecutor, he was sent to the criminal judgeship of peace with a request for his detention. The judgeship ordered Çete's detention. A request was also made to impose precautionary measures on Çete's assets.
He left the SPK in 2022
Çete began working at the SPK in 2010 and left his last position at the institution, head of the Brokerage Activities Department, in 2022.
Altınbaş also jailed
Nusret Altınbaş, owner of Altınbaş Holding, was also jailed as part of the investigation. Ertan Aydın, a former Justice and Development Party lawmaker, was initially placed under judicial control with house arrest and a travel ban. After an objection to the decision, he was detained again and jailed on October 26. Of the 22 suspects referred to the courthouse on October 24, 15 were jailed and seven were placed under judicial control. The number of people jailed in the investigation rose to 118.
Justice Minister Akın Gürlek had announced that protective measures had been imposed on the assets of some individuals and legal entities as part of the investigation.
Fund law takes effect
Meanwhile, Law No. 7596 concerning investment funds ordered to be liquidated was published in the Official Gazette on October 27 and took effect. The law allows interim payments of up to 1 million liras to investors and enables assets unlawfully removed from the funds to be recovered.
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