An Istanbul court has ordered the arrest of four suspects, including former Capital Markets Board (SPK) deputy chairman Enver Usca, in connection with an investigation into transactions involving investment funds.
Usca, former SPK Market Surveillance and Supervision Department head Ercan Urkan, and Banking Regulation and Supervision Agency (BDDK) department head Mustafa Alper Taş were remanded in custody on bribery charges.
Ümit Sincanlı, administrative affairs director at Tera Holding, was also remanded on suspicion of membership in a criminal organization and money laundering.
Meanwhile, former SPK Corporate Finance Department head Kürşad Sait Babuçcu was released under judicial supervision, subject to a travel ban and regular reporting requirements.
Former SPK board member Bülent Murat Haholu was released after giving a statement to prosecutors.
The six suspects were taken into custody on Nov. 3 and brought before the Istanbul Courthouse on Nov. 6. The investigation is being conducted by the Istanbul Chief Public Prosecutor’s Office.
Türkiye has been grappling with a major financial scandal since mid-September, when the collapse of an investment scheme prompted market regulators to suspend and liquidate 131 investment funds suspected of manipulation.
