Türkiye freezes assets of 46 firms, 18 funds and 42 people

Justice Minister Akın Gürlek said assets of 46 legal entities, 18 funds and 42 individuals have been frozen and 37 suspects barred from leaving Türkiye in the investigation into fund outflows between July 1 and August 16.

Turkish Justice Minister Akın Gürlek announced a new step in the fund investigation run by the Istanbul Chief Public Prosecutor’s Office. Fund outflows between July 1 and August 16 were examined starting with the largest amounts, and the assets of 46 legal entities, 18 funds and 42 individuals were frozen.

Thirty-seven suspects who had not previously faced any measures were placed under a travel ban. Orders were sent to all relevant institutions to block transfers, sales, donations, mortgages, account closures, large cash withdrawals and wire transfers, and to freeze capital market instruments.

The probe covers charges including forming a criminal organization, aggravated fraud, laundering proceeds of crime and violating capital markets law. “Whichever account the money was transferred to, whichever company or person the assets were moved to, we will follow the trail to the end,” Gürlek said.

Operations followed a September 17 audit report by the Capital Markets Board, and five people, including Tera Yatırım Holding Chairman Emre Tezmen, were arrested.