20.10.2026 17:41
After the fund scam that affected hundreds of thousands of people, SPK Chairman Mahmut Sütcü has resigned, while Borsa Istanbul Chairman Erişah Arıcan’s silence continues—Arıcan ignored increases of up to 40,000 percent and merely watched as the bubble inflated.
After the fund crisis in which hundreds of thousands of people were victimized, the Chairman of the Capital Markets Board (SPK), Mahmut Sütcü, resigned from his post citing health problems. While figures close to the government commented that "The resignations will continue," it attracted attention that Borsa Istanbul Board Chairman Prof. Dr. Erişah Arıcan maintained her silence throughout the process.
THEY SETTLED FOR WATCHING THE PROCESS WHILE THE BALLOON WAS INFLATING
Borsa Istanbul Board Chairman Prof. Dr. Erişah Arıcan, who held control over all funds on Borsa Istanbul, settled for watching the process while the balloon inflated and ignored increases reaching 40 thousand percent.
The failure of Arıcan and Borsa Istanbul General Manager Korkmaz Ergun to make a convincing public statement regarding the extraordinary share movements and fund positions caused reactions.
"THEY SHOULD SAY FAREWELL WITHOUT WAITING FOR INSTRUCTIONS FROM THE KÜLLİYE"
While Borsa Istanbul Chairman Arıcan maintained her silence, AK Party member Şamil Tayyar made a striking statement on his social media account indicating that new departures could occur. Evaluating the departure from office of SPK Chairman Mahmut Sütçü and Deputy Minister of Treasury and Finance Osman Çelik, Tayyar said, "There are others who will go too. It would be better if they said farewell without dragging it out and without waiting for instructions from the Külliye; they can no longer sit there."