Claim of 203 Thousand Investors and 280 Billion TL Receivables in Fund Crisis Brought to Parliament

CHP Karabük Deputy Cevdet Akay stated that there are approximately 203,000 investors who could not receive their money despite placing sell orders during the fund crisis, indicating a receivable volume of 280 billion TL, and requested the establishment of a commission to investigate the issue in the Turkish Grand National Assembly (TBMM).

CHP Karabük Deputy Cevdet Akay reported that a significant portion of the 455,758 investors declared as victims in the fund crisis consists of individuals who could not receive their money despite placing sell orders. Akay stated that the number of investors in this group was conveyed to them by Capital Markets Board (SPK) officials as approximately 203,000. Noting that these investors placed sell orders before 13:30 on September 17, but their receivables were included in the liquidation process, Akay recorded that examinations based on TEFAS data suggest the receivable volume of these investors could be approximately 280 billion TL.

Pointing to Article 79 of the Capital Markets Law, Akay argued that the investor's receivable from the fund arises upon the finalization of the settlement following the sell order. Reminding that in the event of funds being taken into liquidation, assets are converted into cash and payments are made to investors in proportion to their shares, Akay stated that the amount to be obtained might not be sufficient to cover the receivables. Emphasizing that if investors resort to legal action, interest and litigation expenses in addition to the principal could become a burden on the public, Akay requested a parliamentary inquiry to examine all aspects of the fund crisis.