- BIST10011,117-0.92%
- USD49.63+0.05%
- EUR55.70+0.05%
- GOLD4,017.40-1.06%
- INTEREST36.00%-1.00
- BITCOIN81,510+0.24%
- October 23, 202616°
- BIST10011,117-0.92%
- USD49.63+0.05%
- EUR55.70+0.05%
- GOLD4,017.40-1.06%
- INTEREST36.00%-1.00
- BITCOIN81,510+0.24%
- October 23, 202616°
Fund probe seeks return of 16 billion liras from Altınbaş family
The Istanbul fund investigation found that 16 billion liras was withdrawn from Atlas Portfolio funds before the crisis. The Altınbaş family has been asked to return the amount, while Nusret Altınbaş, who is wanted under an arrest warrant, has not yet been located.
Details of the operation targeting Altınbaş Holding have emerged in the fund investigation conducted by the Istanbul Chief Public Prosecutor's Office. An examination of Capital Markets Board reports and raw data found that 16 billion liras had been withdrawn from funds managed by Atlas Portfolio Management Inc. before the fund crisis that erupted in early September.
Investigators found that 58.3% of the withdrawals belonged to Nusret Altınbaş, while 41.7% belonged to other members of the Altınbaş family. The family was asked to return a total of 16 billion liras. The assets of Nusret Altınbaş, İnan Altınbaş and other family members were frozen.
Nusret Altınbaş is wanted
Arrest orders were issued for 31 suspects as part of the investigation. An arrest warrant was issued for Nusret Altınbaş, the owner of Altınbaş Holding, but he has not yet been located. İnan Altınbaş, an official at the holding company, was among those taken into custody.
Executives from Atlas Portfolio, Alnus Investment Securities and Pirnus Construction Real Estate were also among those taken into custody. Five more people, including Tera Holding Deputy General Manager Seda Tarım Kocabalkan and former lawmaker Ertan Aydın, were detained. Twelve of the suspects were arrested.
Market manipulation at the center of the probe
The investigation is being conducted by the Terrorist Financing and Money Laundering Crimes Investigation Bureau under the Chief Public Prosecutor's Office. The probe focuses on manipulative transactions in the capital markets and also examines trading in shares of Işıklar Energy and Construction Holding, Vişne Mining, Odine Solutions and Tera Financial Investments Holding.
Justice Minister Akın Gürlek said 404 people had faced judicial proceedings so far as part of the investigation, 88 suspects had been arrested and judicial control measures had been imposed on 195 people. Gürlek stressed that they would continue to work decisively to ensure that justice was served and those responsible were held accountable under the law.
Treasury and Finance Minister Mehmet Şimşek had previously said that 66 of 131 funds had been liquidated after the crisis and that small investors would be given priority during the process.
Have a story, event or announcement of your own?Send us your news on WhatsApp
Spotted an error in this story?Report it on WhatsApp
Share on all social platforms
Sponsored Ads
Featured Listings
Loading featured properties...
Stay Updated with The Turkiye Times
Subscribe to be informed about special news, developments and announcements. We will keep you informed.
By signing up, you agree to our Privacy Policy
