Turkish authorities detained Korkmaz Enes Ergün, the general manager of Borsa Istanbul, on Oct. 31 in connection with a fund investigation, according to state-run Anadolu Agency.
Ergun was detained as part of a fund investigation conducted by the Istanbul Chief Public Prosecutor’s Office into transactions carried out in the capital markets, said the news service.
According to Anadolu Agency, Ergun was taken into custody on allegations of membership in a criminal organization established for the purpose of committing crimes and bribery.
Ergun has been serving as the general manager of Borsa Istanbul since 2021.
To date, more than 110 people have been arrested in the fund investigations.
Meanwhile, Muhsin Atcı, head of the tax inspection board, was appointed chairman of the Capital Markets Board (SPK), according to a presidential decree signed by President Recep Tayyip Erdoğan and published in the Official Gazette.
Amid the fund probes, the previous SPK head Mahmut Sütcü had submitted his resignation, citing health problems.
According to the decision published in the Official Gazette, Ersin Başar Ekmekci was appointed deputy chairman of the SPK, while Yasemin Girici was appointed as a member.
Meanwhile, under a law approved by parliament regarding the extraordinary fund liquidation, the first interim payments were made to investors on Oct. 30.
A total of 29.3 billion Turkish Liras in interim payments was distributed to 235,705 investors in the seven funds subject to liquidation.
Previously, under the ordinary liquidation process, 68 billion liras had been paid to 63,759 investors across 93 funds.
As of Oct. 30, total payments made under both ordinary and extraordinary liquidation processes have reached 97.3 billion lira, benefiting 299,464 investors in 100 funds.
