In Turkey, the Debacle of Investment Funds with Sprawling Financial and Political Ramifications
4 Articles
4 Articles
The investigation into the fall of broker Tera, suspected of orchestrating fraudulent financial montages, involves elected officials of the ruling AKP, as well as senior officials. Half a million savers are waiting for their investments to be repaid.
Faced with the crisis caused by a case of fraud and alleged manipulation of prices involving dozens of investment funds, Ankara purges the heights of its finance and removes power-related figures.
Selçuk Adıgüzel writes that Turkey is struggling with the effects of a fund crisis that threatens the savings of hundreds of thousands of investors. In the liquidation process, which involves funds exceeding 800 billion, the government's payment plan of up to one million lira only solves a portion of the grievances. What remains are serious losses, an uncertain payment schedule, and a big question awaiting an answer: What is the real cost of thi…
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