14.11.2026 22:10
Vice President Cevdet Yılmaz announced that within the scope of the fund investigation, a total of 161 billion TL has been paid to investors to date. Yılmaz stated that the amount recovered from those who obtained unjust gains through voluntary returns reached 33.4 billion lira, and said that payments were made to 444,987 investors, of whom 371,021 received the entire amount of their net investment or portfolio value. Yılmaz emphasized that no budget resources were used for the payments.
Vice President Cevdet Yılmaz evaluated the latest developments regarding the fund investigation in the program he attended on TRT Haber. Providing information about the work carried out to compensate investors' losses, Yılmaz stated that a significant part of the liquidation processes had been completed and that the investigation was continuing both judicially and administratively.
“INVESTORS WERE PAID 161 BILLION TL; VOLUNTARY RETURNS REACHED 33.4 BILLION LIRA”
Explaining that a total of 161 billion TL had been paid to investors to date within the scope of the fund investigation, Yılmaz stated that the amount recovered from those who had obtained unfair gains through voluntary returns had also reached 33.4 billion lira. This
figure could increase with new collections, Yılmaz said, adding that the resources obtained were used to meet the rights of victimized investors.
Explaining that the payments were covered from three separate sources, Yılmaz stated that these were the funds' own assets being liquidated, voluntary returns, and assets seized in judicial processes.
“NOT A SINGLE LIRA WAS USED FROM THE BUDGET”
Emphasizing that they had adopted as a basic principle not to use public resources in the liquidation of the funds, Yılmaz said, “To date, not a single lira from the budget or the treasury has been used in any of these interim payments.”
Explaining that a separate account was created for each fund, Yılmaz reported that 131 separate accounts were opened within the Savings Deposit Insurance Fund (TMSF) and that a general account was opened for income that could not be associated with a specific fund.
PAYMENTS WERE MADE TO 444,987 INVESTORS
Yılmaz announced that, as of Friday, payments had been made to 444,987 investors in the funds within the scope of extraordinary liquidation.
Stating that 371,021 of these investors had received the entirety of their net investment amount or portfolio value, Yılmaz reminded that these payments were interim payments, not final liquidation.
Yılmaz said, “At the moment, we are talking about an interim payment. This is not the final payment. It will be an offsetting that will take place in the final liquidation.”
Explaining that 10,771 investors had not yet been paid within the scope of the process, Yılmaz said that there were various reasons for this.
Stating that interim payments were not made to those who had previously withdrawn from the system the amount they had deposited or more, Yılmaz also expressed that the payment process had not yet started in some funds.
Yılmaz reported that people determined to have obtained excessive gains through manipulation were also not included in the payment scope.
PAYMENTS COMPLETED IN 94 OF 97 FUNDS
Announcing that all payments had been completed in 94 of the 97 funds included in the scope of ordinary liquidation, Yılmaz declared that only three funds remained.
Stating that these three funds were closed-end funds that were not publicly offered and had a limited number of investors, Yılmaz said that the ordinary liquidation process had largely come to an end.
He expressed that interim payments were continuing in the funds belonging to Tera, Pusula, and Atlas companies within the scope of extraordinary liquidation.
PAYMENT TARGET OF UP TO 1 MILLION LIRA
Stating that the legal regulation issued aimed especially to protect small investors, Yılmaz said that work was being done to make interim payments of up to 1 million lira.
He explained that if the fund's resources were sufficient, payments above this amount could be made, while in funds with limited resources priority was given to small investors.
He stated that investors in money market funds were also among the priority groups.
STATE SUPERVISION BOARD IS INSPECTING INSTITUTIONS
Explaining that the fund problems became visible with the new fund guide published by the Capital Markets Board (SPK) on August 28, Yılmaz reminded that, in the first stage, 131 funds of seven companies were included in the liquidation scope.
Stating that the State Supervisory Board was assigned after the meeting chaired by President Recep Tayyip Erdoğan, Yılmaz said that inspections at the relevant institutions were continuing.
Yılmaz stated that investigation processes had been initiated against public officials whose responsibility had been determined, and that judicial authorities, especially the Istanbul Chief Public Prosecutor's Office, were also carrying out comprehensive work.
“WE MUST NOT CONFUSE THE WHEAT WITH THE CHAFF”
Emphasizing that the investigation needed to be conducted without harming the general functioning of the capital markets, Yılmaz drew attention to the importance of distinguishing those who commit crimes from those who invest through legal means.
Yılmaz said, “We must not confuse the wheat with the chaff. Just because some people commit crimes and engage in manipulation, we must not adopt an approach that disrupts the system as a whole.”
Stating that efforts continued to protect investors' rights, Yılmaz said that all transactions in the funds were present in the Central Registry Agency records and that the process was being followed.