4th Wave of Fund Investigation: İskender Balcı Detained, Billion-Scale Outflows Under Scrutiny
As part of the 4th wave of operations in the fund investigation coordinated by the Istanbul Chief Public Prosecutor's Office, numerous suspects have been detained.
Legal action has been initiated against suspects, including members of the board of directors of Destek Faktoring and Özata Denizcilik, within the scope of the fund investigation conducted under the coordination of the Istanbul Chief Public Prosecutor's Office.
Scope of the Operation
The 4th wave of operations concerning financial markets was carried out within the scope of the fund investigation coordinated by the Istanbul Chief Public Prosecutor's Office.
Destek Faktoring A.Ş. and Özata Denizcilik were at the center of the investigation, and legal action was initiated against a total of 10 suspects serving on their boards of directors.
Detentions and Arrest Warrants
While 8 suspects were detained in simultaneous raids, security units are continuing their efforts to apprehend Orhan Aksüt, who could not be found at his address.
Numerous names from the boards of directors of Destek Faktoring A.Ş. and Özata Denizcilik were among those detained.
Status of İskender Balcı
It emerged that İskender Balcı, one of the detained figures, is the son-in-law of Deputy Minister of Treasury and Finance Osman Çelik.
Balcı stated on his social media account that he holds no executive authority, has never engaged in any stock market transactions, and is in Turkey.
Previous Arrests
Within the scope of the investigation, Altunç Kumova, the owner of Destek Holding, was detained on September 17 and arrested by the criminal judge of peace on duty.
Additionally, Necmettin Enes Töbü, Engin Geylan, Yunus Caf, Kerem Lafçı, and Cem Gürkan Alpay, who were referred to the court, were arrested.
CMB Decision and TEFAS
The Capital Markets Board (CMB) made a new decision regarding the funds in liquidation that were closed to trading on TEFAS on September 17, 2026.
The Board announced that payments will be made to the owners of the cancelled buy-sell orders from the liquidation balance.
Examination of Billion-Scale Fund Outflows
Financial investigations revealed that there were billion-scale fund outflows between July 1 and September 16, 2026, in the name of İsmet Öğüt, known as "Fisherman İsmet".
İsmet Öğüt’s older brother, former CHP Ardahan Deputy Ensar Öğüt, stated that he has no commercial relationship with his brother and that there has been no connection between them for the past 40 years.