Accounts of 214 individuals and companies blocked in fund probe

187 billion 653 million lira profit was placed under investigation, and critical accounts in the fund operation were frozen. As part of the fund probe conducted by the Istanbul Chief Public Prosecutor's Office, all accounts of the 141 natural persons and 73 companies found to have irregularities in fund companies' account movements were blocked. A court order imposed a travel ban abroad on the individuals and company executives.

The investigation files identified a total of 214 individuals and companies that obtained illicit gains exceeding 100 million lira from three funds. The chief prosecutor sent the prepared findings list to the TMSF, while fund management began issuing official notices to the parties for the return of illicit gains. Authorities are tracking the transfer chain to pinpoint the final destinations of the hundreds of billions of lira removed from the fund pool.

Why were fund accounts blocked?

According to the file data, the top entry in the natural persons list is Melis Sutsurup Sandal, who earned 2 billion 355 million lira from Tera's TLY fund. Records show that Sandal's total cash outflows from fund accounts during 2026 reached 15 billion 793 million lira, and as of September 16, 2026, the remaining fund balance was 249 million 992 thousand lira.

Which accounts does the MASAK review cover?

When amounts obtained from the funds were transferred to the banking system, MASAK intervened. The authority, which scrutinizes all bank transactions of entities exceeding the 100 million lira threshold, will produce a detailed report showing which accounts received the 187 billion 653 million lira withdrawn from the funds. Completion of the MASAK review is expected to deepen the judicial process.

This content is for information purposes only and does not constitute investment advice.