The widening Turkish probe following a fund crisis in the middle of September now encompasses some 464 suspects, while 120 people are detained, Justice Minister Akın Gürlek said on Monday.
"As of Nov. 9, 2026, there are 464 suspects within the scope of the investigation. 120 people are in custody, and judicial control measures have been applied to 262 people," Gürlek said while talking about his ministry's budget in front of the Parliamentary Planning and Budget Commission.
Moreover, he stated that, as the ministry, they closely monitor the process and act in coordination with the relevant state institutions.
The minister pointed out that within the scope of fund investigations, cash flows, financial connections, and transfers of assets are being examined based on concrete evidence, in line with notifications from public prosecutors and relevant institutions about incoming reports and complaints.
Earlier this month, Gürlek said that investigators probing a major investment fund scandal impacting Turkish financial markets have uncovered a "comprehensive criminal network" behind the issue, which he said is not limited to "scam or market manipulation."
The comprehensive probe into alleged stock manipulation was launched in September after some asset management companies struggled to pay back investors.
Expressing that they carefully distinguish institutions operating within the law and investors earning legitimate profits from those under investigation, Gürlek said they aim to both protect the rights of well-intentioned investors and to strengthen the healthy functioning and reliability of the markets.
Gürlek reminded that measures have been taken to prevent the dissipation, transfer, or concealment of assets during investigations.
"The proceeds believed to be derived from crime are being traced, and legal mechanisms are being operated to repatriate assets taken abroad," he said.
"As of Nov. 9, 2026, there are 464 suspects in the investigation. 120 people are in custody, and judicial control measures have been applied to 262 people. Arrest warrants have also been issued for 40 fugitive suspects," he informed.
Additionally, he said that measures have been taken against the assets and bank accounts of 386 individuals and 116 legal entities.
"As of the same date, approximately TL 31.5 billion ($627.6 million) worth of cash, real estate, and stocks have been returned under the voluntary return program organized by the Savings Deposit Insurance Fund (TMSF)," he also said, referring to the voluntary return of assets that the government encouraged.
Gürlek said that payments were made to citizens in funds whose liquidation process had been completed, and that efforts to continue payments "would proceed as processes advance in other funds as well."
Authorities have ordered the liquidation of a total of 131 funds.
"However, I would like to state clearly that voluntary return alone does not eliminate legal responsibility," Gürlek argued.
"While the source, amount, and proper delivery of the returns to their rightful owners are being examined, investigations regarding the relevant persons and transactions are continuing within their legal course," he added, pledging to continue the investigation.
