Turkey arrests Tera chairman as ‘Ponzi-like’ fund probe affects 450,000 investors

🇹🇷 Euronews (TR) —
Turkey arrests Tera chairman as ‘Ponzi-like’ fund probe affects 450,000 investors

AI Summary

Turkish authorities arrested the chairman of Tera Yatirim Menkul Degerler AS amid an investigation into a Ponzi-like investment fund scandal affecting over 450,000 investors and involving liquidation of over $18 billion. This is a significant fraud event impacting Turkey's financial market.

Turkish authorities arrested the chairman of Tera Yatirim Menkul Degerler AS on Wednesday morning, the brokerage at the centre of the country's current investment fund scandal, with funds worth more than $18 billion (€15.7bn) and held by over 450,000 people now being liquidated.

World Politics Markets Deals Turkey Tera Yatirim Menkul Degerler AS Ponzi scheme investment fund scandal arrest investors liquidation financial fraud

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