11.10.2026 11:41
In the fund investigation conducted by the Istanbul Chief Public Prosecutor's Office, repayment notices have begun to be sent to 141 individuals and 73 companies determined to have obtained unjust gains. While it is aimed to collect a total of 187 billion 653 million liras, the suspects' assets were frozen and a travel ban abroad was imposed. While Mustafa Sandal's wife Melis Sandal is also included in the list, it was stated that some names have repaid their billions of liras in earnings.
In the fund investigation conducted by the Istanbul Chief Public Prosecutor's Office, repayment notifications have begun to be sent to 141 real persons and 73 companies determined to have obtained unjust gains. Within the scope of the investigation, it is aimed to collect a total of 187 billion 653 million liras.
ALL ASSETS OF 141 PEOPLE AND 73 COMPANIES FROZEN
In the file, described as one of the largest fund investigations in Turkish economic history, the prosecutor's office tracking the money continues its work in cooperation with the Savings Deposit Insurance Fund (TMSF) and MASAK.
At the request of the Chief Public Prosecutor's Office, all assets of the individuals and companies determined to have obtained unjust gains were frozen. A travel ban abroad was imposed on all individuals on the list.
In line with court decisions dated October 9, 2026, the assets of the individuals and companies on the list were seized ex officio.
The seizure decisions cover land, residences, automobiles, bank accounts, assets in safe deposit boxes, company assets and crypto assets.
The transactions carried out within the scope of legislation to prevent the laundering of criminal proceeds also cover the managers of the companies on the list. A travel ban abroad was also ordered for company managers.
PROFIT OF 187 BILLION 653 MILLION LIRAS FROM THREE FUNDS
Within the scope of the investigation, it was determined that 141 real persons and 73 companies determined to have made a profit of more than 100 million liras from three funds obtained a total income of 187 billion 653 million liras.
Minister of Justice Akın Gürlek, in his statement regarding the figures in the investigation file, reported that approximately 90 billion liras in profit was made from TERA funds, 79 billion liras from Pusula funds, and approximately 18 billion liras from Hedef funds.
Gürlek, stating that especially four dates stood out in the investigation, announced that 214 individuals and companies that carried out sales from the funds on September 13, 14, 15 and 16 were placed under scrutiny.
Istanbul Chief Public Prosecutor's Office reported the identified names to the Savings Deposit Insurance Fund.
IT WAS STATED THAT 10 NAMES MAY HAVE REPAID THEIR GAINS
After the announcement of the fund investigation, it was announced in early October that approximately 5 people had repaid the gains they obtained.
Although there is no official statement, it is estimated that the number of those who repaid their gains may have reached 10 and that the total repayment amount is around 10 billion liras.
FATMA BETÜL SAYAN KAYA AND HER HUSBAND ALSO APPLIED FOR REPAYMENT
Among the names who repaid the fund gains were Fatma Betül Sayan Kaya and her husband İlyas Kaya.
Kaya and her husband sent the portion of their investments other than the principal to TMSF's optional repayment account on October 5, 2026, on a voluntary basis. It was alleged that the couple obtained 2 billion 200 million liras in gains from fund transactions.
It was stated that Fatma Betül Sayan Kaya, keeping the principal and its return, repaid approximately 1 billion 900 million liras from 7 separate bank accounts.
It was alleged that Kaya bought 63 million liras worth of shares from Özata Denizcilik within the scope of the investigation and sold these shares for 1.3 billion liras shortly before the fund scandal emerged.
It was claimed that her husband İlyas Kaya bought 150,000 shares at 55 liras in early 2026 and later sold his shares at 4,482 liras.
It was alleged that İlyas Kaya deposited 99 million 687 thousand liras and withdrew 826 million liras from the Özata fund.
TMSF OPENED REPAYMENT ACCOUNTS
The Capital Markets Board announced in its statement dated October 1, 2026 that TMSF had opened different accounts so that people who obtained high gains from sales in the funds before the liquidation decision could voluntarily repay these amounts.
Through these accounts, it was made possible to optionally repay fund gains.
MUSTAFA SANDAL'S WIFE MELİS SANDAL IS ALSO ON THE LIST
Among the names whose assets the prosecutor's office froze is Melis Sandal, the wife of singer Mustafa Sandal.
It was stated that Melis Sandal, together with her father Cihan Sütşurup, obtained 2 billion 355 million liras in gains from the TERA fund.
In the first days of the investigation, Melis Sandal's lawyer, who argued that the news about her did not reflect the truth, announced that the news in question would be made the subject of a lawsuit. The Sandal side claimed that they were victims in the fund transactions. According to the court decision, all assets of the construction company named RYC were also seized.
BILL FOR THE REPAYMENT OF FUND GAINS IS IN PARLIAMENT
The bill containing regulations for the repayment of gains obtained within the scope of the fund investigation was also submitted to the Grand National Assembly of Turkey.
According to the bill, an optional repayment mechanism will be established for people who exited the funds before the liquidation date at values contrary to reality and obtained gains above ordinary market conditions.
The same practice will also cover people who obtained gains above ordinary returns from shares in fund portfolios whose prices were determined to have been formed in a manner contrary to reality.
MINISTER GÜRLEK: ACTION WILL ALSO BE TAKEN AGAINST THOSE WHO REPAID
Minister of Justice Akın Gürlek, in his statement at the Anadolu Agency Editorial Desk, stated that people who voluntarily repay money to TMSF can only benefit from effective remorse provisions. Gürlek, emphasizing that repayment of the gain does not mean the investigation has ended, used the following statements:
"Covering twice the damage is grounds for effective remorse. But this does not mean the file is closed. The perception that no action will be taken against those who compensate the damage is wrong. Action will definitely be taken regarding them."
JUDICIAL PROCESS INITIATED FOR MONEY SENT TO SWITZERLAND
Minister Gürlek announced that a judicial process was also initiated to bring back to Turkey the money sent to Switzerland within the scope of the investigation.
While transactions continue for the recovery of money transferred abroad, it is aimed to collect 187 billion 653 million liras from the individuals and companies identified within the scope of the investigation.