Türkiye re-detains former presidential adviser over investment fund case

Former Turkish presidential adviser Ertan Aydın has been detained again as part of an investigation into the investment fund crisis. The deputy general manager of the insurance company Türkiye Sigorta has also been detained in the case.

Former Turkish presidential adviser Ertan Aydın has been detained again as part of an investigation linked to the investment fund crisis, the newspaper Cumhuriyet reported. He was detained in Ankara and is expected to appear before a duty judge.

Aydın was first detained on October 22. After questioning, an Istanbul court placed him under house arrest and imposed a travel ban, but the prosecutor’s office appealed the decision, after which the court issued an arrest warrant for him. The deputy general manager of the insurance company Türkiye Sigorta, Gürol Sami Özer, was also detained as part of the same investigation.

Здание Дворца правосудия в Стамбуле

Earlier in the case, Taha Çakmak, the former general manager of Türkiye Sigorta and Türkiye Hayat Emeklilik, was arrested. On October 24, 15 of the 22 suspects brought before the court in a case involving capital market operations were remanded in custody.

In September, the BIST 100, the main index of the Istanbul Stock Exchange, lost more than 8% over the course of a week, marking its largest weekly decline since March 2025. The decline was triggered by problems affecting investment funds, a significant share of whose assets had been invested in low-liquidity stocks. Turkish authorities decided to liquidate 131 funds managed by seven asset management companies, which had about 456,000 investors.