Turkey arrests 45 in investment‑fund probe as authorities push liquidation of 131 funds

Justice Minister Akın Gürlek said 45 people have been arrested in connection with a sweeping investigation into 131 investment funds managed by seven firms. Assets of fund owners, senior executives and some relatives have been seized or frozen. President Recep Tayyip Erdoğan asserted that the crisis does not pose a systemic risk to the economy. Treasury and Finance Minister Mehmet Şimşek is chairing meetings to prepare the liquidation, which has been pushed back to a six‑month deadline. The funds involve roughly $18 billion and affect about 455,758 investors.