Erdoğan pledges swift compensation and reforms to prevent another fund collapse

In a speech to AKP legislators on Oct. 21, President Recep Tayyip Erdoğan announced that compensation for the roughly 455,000 investors harmed by the recent Ponzi-scheme will be disbursed immediately after a draft bill receives parliamentary approval. He stressed that the government is handling the matter with “surgical precision” and placed restitution as the top priority. The second focus is to speed up legal actions, with chief prosecutors pursuing cases based on gathered evidence and testimonies.

The third stage involves comprehensive reforms, guided by a detailed report from the State Supervisory Council and additional studies ordered by the president, aimed at overhauling institutional and regulatory frameworks. Erdoğan also noted that a coordination committee and economic officials meet regularly to keep the public informed. The crisis, which began in mid-September, led to the shutdown of 131 manipulated funds, senior bureaucratic resignations, and the departure of AKP deputy leader Fatma Betül Sayan Kaya.