Arrest and Confiscation of Millions in Assets in Fund Investigation
As executives were arrested in the Istanbul Chief Public Prosecutor's fund investigation, approximately 750 million TL in accounts was frozen and luxury vehicles were taken under review.
Within the scope of the fund investigation conducted by the Istanbul Chief Public Prosecutor's Office, individuals including executives of Tera Holding and Doğa Sigorta were arrested. In accordance with MASAK reports, fund accounts worth approximately 750 million TL were frozen, and numerous luxury vehicles, private jets, and a yacht belonging to the suspects were confiscated.
Executives Arrested
Within the scope of the investigation conducted by the Istanbul Chief Public Prosecutor's Office, detained Tera Holding board members Abdulkadir Özkan and Bülent Uygun, alongside Doğa Sigorta Chairman of the Board Nihat Kırmızı, were arrested and sent to prison. The other 21 individuals detained within the framework of the investigation were referred to the courthouse.
Millions of TL Frozen
During inspections carried out based on MASAK reports, a cash amount of 387,461,359.86 TL found in the fund accounts was frozen. 105 million TL belonging to detained Pusula Portföy Yönetimi AŞ Chairman of the Board Muhammed Yarız and 257 million TL attempted to be transferred via TERA Portföy were confiscated. Thus, transactions were blocked on a total resource of approximately 750 million TL.
Luxury Vehicles and Jets Confiscated
It was determined that luxury vehicles belonging to the suspects were transferred at very low prices in order to smuggle them out of the investigation. 5 luxury vehicles with a market value ranging between 200 and 220 million TL, as well as 2 private jets and a yacht belonging to Muhammed Yarız, Emre Tezmen, and Serdar Turhan, were taken under review by court order; the total market value of these vehicles was evaluated at 1 billion 800 million TL.
Liquidation Processes and Legislative Proposal
Under the chairmanship of Treasury and Finance Minister Mehmet Şimşek, the liquidation and payment processes regarding 131 investment funds of 7 portfolio management companies were addressed. The New Party submitted a legislative proposal to the Speaker's Office of the Parliament aiming to ensure that the majority of the funds in the 131 liquidated funds are refunded to investors.