{
  "id": 11360086,
  "title": "Turkey's stock market scandal affects nearly half a million investors. Police have made several arrests and an AKP politician has resigned.",
  "url": "https://urgent.news/2026/10/02/turkeys-stock-market-scandal-affects-nearly-half-a-million-investors-11360086",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-02T04:32:00.000Z",
  "source": {
    "name": "DW English (Top Stories)",
    "slug": "dw-english-top-stories",
    "url": "https://www.dw.com/en/turkey-s-stock-market-scandal-affects-nearly-half-a-million-investors-police-have-made-several-arrests-and-an-akp-politician-has-resigned/a-79494710?maca=en-rss-en-top-1022-xml-mrss"
  },
  "original_language": "en",
  "account": "Turkey's stock market scandal is causing turmoil for nearly half a million investors. According to prosecutors, this crisis has resulted in widespread arrests and the resignation of an AKP politician. The market manipulation scandal began in mid-September when the BIST 100 index plummeted by 6% in a single day, and lost around 12% over several trading days. Over 455,000 investors have been impacted, with more than 45 people arrested and a high-ranking AKP official stepping down. The issue started when investment fund providers faced delays in repaying investors, including those managed by Pusula Portfoy and Tera. Two Tera funds held assets totaling approximately €6.5 billion. In response, the Capital Markets Board shut down the funds of seven asset managers, including Tera, Pusula, and Atlas. A total of 131 funds are set to be liquidated, with 45 people arrested and the assets of 42 individuals and 46 legal entities frozen. The Istanbul Stock Exchange excluded 27 stocks from the BIST 100 index. Independent financial advisor Aysel Gundogdu explains that the liquidation aims to prevent a collapse in stock prices. However, this does not guarantee a swift resolution. Gundogdu warns that investors may face significant losses, particularly with hedge funds and equity funds holding worthless junk stocks. The Istanbul Public Prosecutor's Office is investigating allegations of fraud, capital markets law violations, and criminal organization formation. According to Justice Minister Akin Gurlek, the fund companies are suspected of inflating their fund values while holding worthless stocks. This crisis is deemed to be more severe than a simple liquidity issue, with significant management and oversight failures identified. Economist Guldem Atabay stresses that investors must differentiate between market losses and damages resulting from potential irregularities. She believes fund founders and managers could face legal repercussions. The scandal has already led to the resignation of High-ranking AKP politician Fatma Betul Sayan Kaya, who faced allegations related to stock transactions. The opposition plans to bring the issue to Parliament for further investigation.",
  "summary": "Nearly half a million investors are affected, arrests have been made, and a female politician from the ruling party has resigned. What is behind the stock market manipulation scandal in Turkey?",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "DW News",
        "title": "Turkey's stock market scandal affects nearly half a million investors. Police have made several arrests and an AKP politician has resigned.",
        "url": "https://urgent.news/2026/10/02/turkeys-stock-market-scandal-affects-nearly-half-a-million-investors",
        "published": "2026-10-02T04:32:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}