Home > Current Affairs News > Sharp criticism from Şamil Tayyar on the fund crisis: 830 billion liras of 515 thousand investors have evaporated

Sharp criticism from Şamil Tayyar on the fund crisis: 830 billion liras of 515 thousand investors have evaporated

AKP member Şamil Tayyar made striking remarks regarding the growing crisis involving 130 funds whose transactions were suspended by the Capital Markets Board (SPK). Stating that 830 billion liras in assets belonging to 515 thousand investors are at stake, Tayyar described the situation as the "greatest financial fraud in recent history." Tayyar also pointed to Tera Holding Chairman of the Board Emre Tezmen, asking, "Kara Haydar is in prison, why is Emre Tezmen outside?"

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As the fund crisis, which has caused sharp fluctuations in Borsa İstanbul, continues to grow, a striking statement has come from AKP member Şamil Tayyar.

In a post on his social media account, Tayyar argued that the crisis should not be evaluated solely based on its share of the total fund market size.

The Capital Markets Board (SPK) had suspended transactions for a total of 130 investment funds belonging to 7 portfolio management companies and decided to initiate a liquidation process for these funds. While figures regarding the number of investors and portfolio size in these funds vary across different sources, there is talk of more than 500 thousand investors and over 800 billion liras in assets.

"Cannot be underestimated"

In his post, Tayyar stated that the scale of the crisis cannot be downplayed by calling it "10 percent of total funds," and used the following expressions:

"The fund crisis shaking Turkey cannot be simplified by saying it is '10 percent of total funds.'

It cannot be underestimated.

830 billion liras of 515 thousand investors have evaporated in the 130 funds whose transactions were suspended."

Tayyar then intensified his assessment of the crisis, describing the events as the "greatest financial fraud in recent history."

The Emre Tezmen question from Tayyar

In the continuation of his post, Şamil Tayyar brought up Tera Holding Chairman of the Board Emre Tezmen, one of the names currently being discussed by the public.

Stating that "Vanlı Kara Haydar" is in prison, Tayyar asked why Tezmen, whom he described as the person who "shaped the future" of the fund system, is still free and why his assets have not been seized.

"Kara Haydar is in prison.

So, why is Emre Tezmen, the king who 'shaped the future' of the collapsed fund system, still outside?

And why haven't his assets been seized?"

It was reported that as of September 17, there is a travel ban in place for Tezmen. Tezmen had described the situation as a "temporary liquidity crunch" that emerged in some funds and announced that his group had taken the necessary precautions.

"All assets must be seized"

In the final part of his post, Tayyar called for stricter measures regarding the assets of the fund company owners.

Asking, "Why was the same courage not shown in the fund crisis when the assets of suspects are seized in more ordinary operations?" Tayyar continued as follows:

"Let me be clear.

All assets of the owners of the collapsed fund companies must be seized.

All those responsible for the crisis must be held accountable."

In the background of the fund crisis, there are allegations that some investment funds created high positions in stocks with low trading volumes and limited actual circulation, and that price movements in these stocks affected fund returns and, consequently, investor inflows. Following the crisis, with the SPK placing 130 funds into the liquidation process, the investigation and measure process in the market has also expanded.