The investment fund scandal in Turkey is taking on a new political dimension, as among the four individuals who have been remanded in custody is Iskender Balci, who, according to Turkish media reports, is the son-in-law of Deputy Minister of Finance and Economy Osman Çelik. At the same time, the Turkish government is expediting procedures to reimburse the approximately 455,000 investors affected by the crisis.
As part of the fourth phase of the investigation, 13 suspects were brought before the court. The court ordered the pretrial detention of Iskender Balci, Ali Cil, Ismet Ogut, and Adem Karatepe, while nine other individuals were placed under restrictive conditions.
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The case of Iskender Balci is particularly noteworthy; according to Turkish media, he is the son-in-law of Osman Çelik, the Deputy Minister of Finance and Economy. Balcı had administrative ties to the company Özata Denizcilik and, according to the same reports, had resigned shortly before the arrest warrant was issued against him.
With these latest detentions, Turkish media are reporting that the total number of individuals detained in connection with the investigation has risen to 65.
In parallel with the judicial investigation, the Coordinating Council on the funds met for the second time today, chaired by Turkish Vice President Cevdet Yılmaz.
The meeting examined the calculation of the net amounts invested by the beneficiaries, payments based on the decisions of the Capital Markets Board (SPK), and the timeline for refunds.
The case involves approximately 455,758 investors, and the government says measures are being taken to ensure that investors receive as much of their money back as possible.
Source: CNA
