Turkish justice minister alleges criminal network behind major fund scandal

Turkish investigators probing a multi-billion-dollar investment fund scandal have uncovered a comprehensive criminal network that infiltrated the highest levels of financial markets, Euronews reported. Justice Minister Akin Gürlek announced the findings on Tuesday. The sprawling investigation began in mid-September over allegations of widespread market manipulation. [1]

Police detained the boss of the Istanbul stock exchange as part of the ongoing probe, according to Euronews. The scheme allegedly affected the savings of nearly half a million investors. On October 31, authorities detained Korkmaz Enes Ergun, who was later remanded on charges of accepting bribes and membership of an organisation formed to commit crimes. [1]

Crime in Turkey is combated by the Turkish police and other state agencies. Data provided by the Ministry of Justice shows that terrorism and homicide rates have been decreasing year by year after 2014. [2]

Turkey functions as an upper-middle-income emerging market economy that is fueled by manufacturing, tourism, and exports. However, the country's economy remains strained by inflation and currency issues. [3]