02.11.2026 09:12
DEVA Party Chairman Ali Babacan reacted to developments in the financial markets, claiming that the total market value of publicly traded companies on the stock exchange has declined by more than 173 billion dollars over the past two months following the fund scam. Describing what happened as “the largest market fraud in the history of the Republic,” Babacan called for the establishment of a parliamentary investigative commission and a fully authorized “task force” to manage the process.
DEVA Party Chairman Ali Babacan drew attention to the loss of value he said occurred in financial markets in his statement. Babacan stated that the total market value of publicly traded companies fell from 479 billion dollars to 306 billion dollars in the last two months, and said the loss exceeded 173 billion dollars.
"THE BIGGEST MARKET FRAUD IN THE HISTORY OF THE REPUBLIC"
Babacan, who made a statement on his social media account, used the following expressions:
"The loss has exceeded 173 billion dollars! In the last 2 months, the total value of our publicly traded companies dropped from 479 billion dollars to 306 billion dollars. Our factories, commercial enterprises, and banks continue to melt before our eyes. We are facing the biggest market fraud in the history of the Republic. The only way to stop the deterioration is to clarify this issue in all its aspects."
BABACAN'S 4-POINT CALL
Babacan, arguing that the process experienced must be clarified, called on the authorities with a four-point call.
Babacan noted the following in the continuation of his statement:
"We have said this many times; what needs to be done urgently is clear: 1) Publish the list. 2) Establish an investigative committee in Parliament. 3) Dismiss all managers of the relevant organizations. 4) Establish a fully authorized 'task force' to manage the process."