İYİ Party's Erhan Usta reacts to Minister Şimşek: 'If it was known, why did you wait 10 months?'

Stating that 10 months were wasted before taking measures against allegations of market manipulation, Usta asked whether the connections between fund managers and politicians were being investigated and how the losses of small investors would be compensated.

İYİ Party Deputy Chairman responsible for Development Policies and Samsun MP Erhan Usta submitted a parliamentary question to the Grand National Assembly of Turkey (TBMM) for Treasury and Finance Minister Mehmet Şimşek to answer regarding developments at Borsa İstanbul. Referring to Minister Şimşek's statements in November 2025 regarding allegations of market manipulation, Usta raised claims that the process was delayed by politicians and authorized institutions. Stating that the state turned a blind eye to the transactions of the funds in question, Usta made the following remarks:

“You said, 'There is manipulation in the market, we know it.' You knew about the problem, but you waited exactly 10 months to take action. You made regulations only after the fire had already spread; hundreds of thousands of investors were victimized.

Even though the allegations regarding the funds date back further, if we take November 2025, when the Treasury and Finance Minister made his statement, as a basis, it becomes clear that the state effectively turned a blind eye to the transactions of these funds for 10-11 months.

There are allegations that authorized institutions did not investigate these issues as required, or that the measures to be taken by authorized institutions were delayed or held back for political reasons. If the problem was known, what were you waiting for for 10 months?”

“Which politicians are involved?”

Stating that there was negligence by authorized institutions, primarily the Capital Markets Board (SPK), Usta drew attention to the possible links between stock market manipulations and politicians, and directed the following questions to Minister Şimşek:

“Which politicians have connections to the management, ownership, or companies in which these funds hold significant shares, and will a statement be made regarding them? Who are the senior political and public officials who have held these funds over the past year? If these are not identified and disclosed, is there any possibility that manipulation has truly been fought and results achieved? How much public loss has occurred due to both the liquidation of the funds and the decline in BIST? According to Article 107 of the Capital Markets Law, the creation of artificial prices constitutes a crime. Why has no criminal complaint been filed against those who committed this crime, and will one be filed?”

“Who will be charged for the resulting public loss?”

Stating that the dimensions the crisis has reached point to weaknesses on the public side, Usta argued that the liquidation processes would further victimize small investors. Usta made the following assessments regarding the situation of banking and finance sector executives and the interventions of public institutions:

“News has been reflected in the press that Katılımevim and Birevim will be purchased by Emlak Katılım. Has the public loss estimated to occur here been calculated?

From whom will this public loss be collected? Will it be dumped on the public? Has the market been intervened in through the CBRT, public banks, and the Wealth Fund due to this crisis?

If so, will the scale of this intervention and the resulting public loss be explained transparently? It is obvious that the public has a responsibility toward investors; in this regard, who will compensate for the losses of small investors?”

News Source: 12punto