Ümit Özlale’s ‘fund’ statement: 'This file cannot be closed with liquidations'

Yeni Parti İzmir MP Ümit Özlale, in a statement regarding recent developments in capital markets, said that the process leading to the liquidation of 131 investment funds belonging to 7 portfolio management companies cannot be handled solely by focusing on the fund managers.

Holding a press conference at the Zeytinburnu District Headquarters on behalf of his party's Economic Coordination Council, Özlale stated that the savings of small investors have been harmed and that what has occurred cannot be viewed as "merely a capital market crisis."

This is the hope of millions of people trying to survive in the midst of a cost-of-living crisis. It is the exploitation of their desperation and the money they saved with great difficulty.

Özlale recalled that the Capital Markets Board (SPK) has tasked Türkiye İş Bankası and Ziraat Bankası with conducting the liquidation process for the 131 investment funds belonging to the 7 portfolio management companies. Stating that it is important for the liquidation to be completed quickly, Özlale emphasized that the real issue is uncovering how this structure grew and determining the responsibility of public institutions in the process.

CALL FOR INVESTIGATION INTO INSTITUTIONS

Directing questions to Minister of Treasury and Finance Mehmet Şimşek, Özlale argued that despite statements in November 2025 regarding the presence of manipulation in the funds, approximately 10 months were spent waiting before a comprehensive intervention was made. He claimed that during this period, the suspicious structures and funds grew 4-5 times in size, and hundreds of thousands of new small investors entered the system.

Özlale expressed that the investigation must be expanded, stating, "Listing only the names of the fund managers who carried out the transactions and detaining them is not enough. Who gave the instructions? Who benefited? Who established this mechanism, who protected it, and who ignored it?"

Stating that the previous and current decisions of the SPK should be reviewed retroactively, Özlale demanded an investigation into all stages where public authorities have signatures, from the processes allowing the funds to be traded on TEFAS to public offering transactions, and from valuation reports to the financial adequacy assessments of partnership structures.

Noting that the BDDK and MASAK also bear responsibility, Özlale pointed out that the fact that some financial institution owners are also partners or managers in banks moves the issue beyond the scope of capital markets. He stated that it must be explained on what basis the establishment, share transfer, and partnership permits for banks were granted.

Demanding an explanation as to whether MASAK has taken any protective measures such as blocking or freezing the assets and bank accounts of individuals linked to suspicious transactions, Özlale said that who withdrew money from the system, on what dates, and in what amounts should be investigated in a manner free from political influence.

Stating that the process cannot be closed with only criminal complaints, trading bans, and liquidation decisions, Özlale called for measures to protect investors' claims to be taken without delay. Saying that they will follow the matter as the Yeni Parti, Özlale added, "The cover of this file cannot be closed with liquidation."