Politics · Turkey · 6 hrs ago
Turkey approves probe into former capital markets regulator chief
Turkey approved a probe into former markets regulator chief İbrahim Ömer Gönül after prosecutors sought permission to investigate him.
Finance Minister Mehmet Şimşek authorized the investigation on Wednesday.
Prosecutors say there are clear and sufficient indications that Gönül failed to meet his responsibilities as head of the Capital Markets Board, a job he held for four years until April.
The investigation follows a fund scandal that erupted a month ago, after several funds could not meet investors’ requests to withdraw their money.
The regulator put seven companies managing 131 funds into liquidation; their assets were reportedly worth about $17 billion.
More than 455,000 individual investors have been affected, and the scandal has put pressure on President Recep Tayyip Erdoğan’s ruling party.
Prosecutors will investigate Gönül’s conduct in office, but the available information does not say what action may follow.
Turkey’s finance minister authorized prosecutors to investigate former Capital Markets Board chief İbrahim Ömer Gönül.
Prosecutors had requested permission two weeks earlier, saying there were “clear and sufficient indications” that Gönül failed to fulfill his responsibilities.
The probe follows an investment fund scandal that erupted a month ago and prompted an investigation into alleged widespread market manipulation.
Seven companies managing 131 investment funds were placed into liquidation, affecting more than 455,000 individual investors.
The funds’ assets were reportedly worth about $17 billion.
- Who
- Former Capital Markets Board chief İbrahim Ömer Gönül is the subject of the probe. Finance Minister Mehmet Şimşek authorized the investigation.
- What
- Prosecutors were authorized to investigate whether Gönül failed to fulfill his responsibilities while in office.
- When
- Wednesday, two weeks after prosecutors requested permission. The article was published on October 14, 2026.
- Where
- Turkey.
- Why
- Prosecutors said there were “clear and sufficient indications” that Gönül had failed to fulfill his responsibilities. The authorization follows a fund scandal and allegations of widespread market manipulation.
This story does not have two clearly opposing sides.
An investment fund scandal erupted, with several funds unable to meet investors’ redemption requests.
Prosecutors requested permission to investigate Gönül.
Finance Minister Mehmet Şimşek authorized prosecutors to investigate Gönül.
- Subject
- İbrahim Ömer Gönül, former Capital Markets Board chief
- Authorization
- Mehmet Şimşek
- Companies placed into liquidation
- 7
- Investment funds managed by those companies
- 131
- Affected individual investors
- More than 455,000
- Reported fund assets
- About $17 billion
What people are saying
clear and sufficient indications