All 31 Suspects Detained in Istanbul Fund Investigation After Five More Arrests

Istanbul prosecutors ordered the detention of 31 suspects in a fund investigation tied to capital market transactions. The probe, conducted by the Terrorism Financing and Laundering Crimes Investigation Bureau, followed reports from the Capital Markets Board and written applications.

Shares of four publicly traded companies were examined: Işıklar Enerji ve Yapı Holding, Vişne Madencilik Üretim Sanayi ve Ticaret, Odine Solutions Teknoloji Ticaret ve Sanayi, and Tera Finansal Yatırımlar Holding.

Of the 31 suspects, 26 were detained in the initial operation. The group included managers of portfolio management companies, representatives of investment institutions, bank executives, and a former revenue controller from the Treasury and Finance Ministry.

Five more suspects wanted in the investigation were detained on October 22, meaning all 31 people named in the detention orders have now been captured.

Nusret Altınbaş, owner of Altınbaş Holding, was subject to a capture order, while his brother İnan Altınbaş was among those detained. A freeze was imposed on the family’s movable and immovable assets.

President Recep Tayyip Erdoğan said during an AK Party executive board meeting that no protective approach would be shown in the investigation. He stated that necessary steps would be taken so that the matter would not harm the body.

The investigation remains ongoing as authorities continue to evaluate allegations concerning transactions in capital markets.