Turkey Arrests Tera Chairman as $18bn Fund Scandal Widens
Authorities detained 14 more suspects and said the probe now covers $18 billion in assets and about 353,000 investors.
10 Articles
10 Articles
Turkey arrests Tera chairman as $18bn fund scandal widens
Turkish authorities arrested the chairman of Tera Yatirim Menkul Degerler AS on Wednesday morning, the brokerage at the centre of the country's current investment fund scandal, with funds worth more than $18 billion (€15.7bn) and held by over 450,000 people now being liquidated.
Turkey has arrested the founder of an investment brokerage firm at the center of an alleged $18 billion Ponzi scheme that has wiped out the savings of hundreds of thousands of investors and raised questions about why regulators did not act sooner to stop it, the British Financial Times reported.
Members of the management of the brokerage firm are also under detention – Authorities are targeting the collapse of funds with losses of billions The post Turkey: Tera president arrested in the investment funds case appeared first on Npress.gr.
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