Politics · Turkey · 1 hr ago
Erdoğan’s party and ally block inquiry into Turkey fund scandal
Turkey’s ruling party and its nationalist ally blocked a parliamentary inquiry into the investment fund scandal.
The crisis began in September when some funds could not meet requests from investors to withdraw their money.
Turkey’s securities regulator ordered the liquidation of 131 funds managed by seven companies; those funds had 455,758 individual investors, though that figure does not show how many are still awaiting repayment.
Opposition lawmakers say regulators ignored warnings about suspected market manipulation, while a criminal investigation is examining alleged gains linked to funds managed by three companies.
The investigation has identified 141 individuals and 73 companies suspected of obtaining unjust gains, according to the justice minister.
A parliamentary committee is considering a bill on liquidating the funds, recovering losses and paying investors, with repayments to come from fund assets and money recovered from those responsible.
Erdoğan has said eligible investors could begin receiving interim payments this month once parliament passes the legislation.
Lawmakers from Turkey’s ruling Justice and Development Party and its nationalist ally again blocked opposition calls for a parliamentary inquiry into an investment fund scandal.
The crisis affected funds with 455,758 individual investors, and Turkey’s securities regulator ordered 131 funds managed by seven companies to be liquidated.
Opposition lawmakers say regulators ignored warnings and want scrutiny of possible political connections and regulatory failures.
The ruling party has argued that a parliamentary commission is unnecessary while the judiciary investigates.
President Recep Tayyip Erdoğan said eligible investors would begin receiving interim payments this month once parliament passes legislation.
- Who
- Lawmakers from the ruling Justice and Development Party and its ally, the Nationalist Movement Party, blocked the inquiry; opposition groups had called for it.
- What
- Parliament rejected motions to investigate political connections and regulatory failures linked to the investment fund scandal.
- When
- Tuesday; the article was published on October 14, 2026.
- Where
- Turkey’s parliament.
- Why
- The ruling party had argued that an inquiry was unnecessary while the judiciary investigates. Opposition lawmakers want scrutiny of possible political connections and regulatory failures.
Ruling Justice and Development Party and Nationalist Movement Party
Opposition groups
Need for parliamentary inquiry
Ruling Justice and Development Party and Nationalist Movement Party
The ruling party said a parliamentary commission was unnecessary for now because the judiciary was investigating the scandal.
Opposition groups
Opposition groups called for an inquiry into political connections and regulatory failures.
Regulatory oversight
Ruling Justice and Development Party and Nationalist Movement Party
Not stated.
Opposition groups
Opposition lawmaker Erhan Usta accused regulators of ignoring warnings about suspected market manipulation.
A prosecutors’ letter cited by opposition lawmaker Erhan Usta raised concerns about suspected manipulation.
Turkey’s securities regulator ordered the liquidation of 131 funds managed by seven companies.
Some funds could not meet investor withdrawal requests amid investigations into suspected market manipulation.
AKP parliamentary group leader Abdullah Güler argued that a parliamentary commission was unnecessary while the judiciary investigated.
Erdoğan pledged that eligible investors would begin receiving interim payments this month once parliament passes legislation.
AKP and MHP lawmakers defeated opposition motions for a parliamentary inquiry.
- Funds ordered liquidated
- 131
- Fund management companies
- 7
- Individual investors in the funds
- 455,758
- Alleged unjust gains identified by investigators
- 187.6 billion Turkish lira ($3.8 billion)
- Suspects with continuing asset restrictions
- 109
What people are saying
While the public was being robbed, some people added to their fortunes