Istanbul prosecutors detain two fund executives in capital markets probe

September 19, 2026 at 05:43 PM2 min

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Istanbul prosecutors ordered the detention of Pusula Portföy executive Serdar Turhan and Tera executive Alper Öztürk in a capital markets investigation. The probe has already led to four arrests and travel bans on 51 people.

Key Facts

Istanbul prosecutors ordered the detention of Pusula Portföy executive Serdar Turhan and Tera executive Alper Öztürk.
Four suspects have been arrested and 51 people face travel bans and asset freezes in the investigation.
The Capital Markets Board (SPK) banned Pusula Portföy and several fund managers, including board chairman Muhammed Yarız, from trading for two years over Katılımevim share transactions.
The SPK also imposed two-year trading bans on multiple Pusula Portföy fund managers over Gündoğdu Gıda share transactions.
The SPK filed criminal complaints against some Pusula Portföy fund managers over transactions in Katılımevim and Gündoğdu Gıda shares.

Detention Orders

Istanbul Chief Public Prosecutor's Office ordered the detention of Serdar Turhan, a Pusula Portföy executive, and Alper Öztürk, a Tera executive, as part of its investigation into capital market transactions. The detention orders mark a new phase in the probe, which has already resulted in four arrests and travel bans for 51 individuals. Earlier, the resignations of Ahmet Özcan and Serdar Turhan from Katılımevim Tasarruf Finansman A.Ş. and Pusula Finans Holding A.Ş. were accepted, and Emre Tezmen, chairman of TERA Group, and Erkan Kilimci were appointed to the vacant board seats.

Regulatory Sanctions

The Capital Markets Board (SPK) imposed a two-year trading ban on Pusula Portföy and several fund managers, including board chairman Muhammed Yarız, over transactions in Katılımevim shares. The SPK also banned multiple Pusula Portföy fund managers from trading for two years over transactions in Gündoğdu Gıda shares. The SPK filed criminal complaints with the public prosecutor's office against some Pusula Portföy fund managers over transactions in Katılımevim and Gündoğdu Gıda shares.

Investigation Scope

The investigation covers transactions in Katılımevim shares between October 19, 2023 and May 28, 2024, and between March 4 and June 12, 2026. It also covers Gündoğdu share transactions between February 11 and June 8, 2026, and Destek Faktoring share transactions between October 15 and December 2, 2025. Four suspects have been arrested, and 51 people face travel bans and asset freezes, including Ahmet Özcan, Ali Rıza İncekara, Alper Öztürk, Emre Tezmen, and Muhammed Yarız.