Istanbul prosecutors freeze 387 million lira, seize 362 million in fund probe

September 24, 2026 at 02:39 PM2 min

This digest was compiled by AI from multiple sources — links to the originals are below.

Istanbul prosecutors froze 387.46 million lira in fund accounts and seized 362 million lira in assets linked to detained Pusula Portföy chairman Muhammed Yarız. The measures, coordinated with Turkey's financial intelligence unit MASAK, bring the total amount frozen or seized to about 750 million lira. The action comes as prosecutors also seized five luxury vehicles worth about 200 million lira from Yarız.

Key Facts

Istanbul prosecutors froze 387,461,359.86 lira in fund accounts as part of a capital markets investigation.
Authorities seized 105 million lira belonging to detained Pusula Portföy chairman Muhammed Yarız and 257 million lira that was being transferred through TERA Portföy.
The total amount frozen or seized in the three transactions reached approximately 750 million lira.
Prosecutors also seized five luxury vehicles worth about 200 million lira from Yarız, including McLaren, Bentley, Rolls-Royce, Maybach, and Audi Q8 models.
The vehicles were transferred to four different individuals on September 7-8 for a total of 26,280 lira as a 'vehicle sale price'.

Asset Freeze and Seizure

The Istanbul Chief Public Prosecutor's Office, through its Bureau for Investigation of Terrorism Financing and Money Laundering, worked with MASAK to freeze 387,461,359.86 lira in fund accounts. Prosecutors also seized 105 million lira belonging to Muhammed Yarız, chairman of Pusula Portföy A.Ş., who was detained in recent days. An additional 257 million lira that was being transferred through TERA Portföy at a private bank was also seized. The combined total of frozen and seized assets in the three transactions reached approximately 750 million lira.

Luxury Vehicle Seizures

The Istanbul Chief Public Prosecutor's Office seized five luxury vehicles worth approximately 200 million lira from Muhammed Yarız. The vehicles included McLaren, Bentley, Rolls-Royce, Maybach, and Audi Q8 models. Investigators found that the vehicles were transferred to four different individuals on September 7-8 for a total of 26,280 lira as a 'vehicle sale price'.