Turkey Lifts Asset Freezes on 45 Firms, 19 Funds in $18B Investment Fund Probe; AKP Deputy Chair Resigns

Turkish prosecutors lifted asset restrictions on 45 companies and 19 funds named in an investigation into the country's investment fund crisis, the Istanbul Chief Public Prosecutor's Office said. Measures against 42 individuals remain in place. More than 450,000 investors hold stakes in funds worth over $18 billion now being liquidated. Authorities froze assets of 46 legal entities, 18 funds and 42 individuals over the weekend, per Justice Minister Akın Gürlek. The decision followed the resignation of Fatma Betül Sayan Kaya, deputy chair of President Recep Tayyip Erdoğan's ruling AK Party. She stepped down after opposition New Party spokesman Zeynel Emre alleged she sold shares worth 1.3 billion Turkish lira (€23.3 million) shortly before the market plunged on September 16. Erdoğan accepted her resignation, AKP spokesman Ömer Çelik said September 27. The crisis began after Capital Markets Board rules on August 28 triggered fund withdrawals. The board moved to liquidate 131 funds on September 17. At least 45 people have been arrested.