Motions for a parliamentary inquiry into the fund crisis were rejected as a result of votes by the AK Parti and MHP. At the session of the TBMM Genel Kurulu, opposition parties’ request to investigate the developments known publicly as the “fund crisis” and allegations of irregularities was taken up. Speaking at the session chaired by Deputy Speaker Yusuf Beyazıt, İdris Şahin, an Ankara MP from the Yeni Yol Grubu, argued that the issue was not limited to 455 thousand 758 victims. The allegations did not stop there. Erhan Usta of the İYİ Party claimed that a Tera fund had been admitted to TEFAS without approval from the SPK, Turkey’s capital markets regulator. Usta said the number of investors had risen from 161 to 111 thousand in 7-8 months. He also argued that the fund’s size had reached 268 billion lira and that the SPK had ignored the situation for 11 months. Adalet Kaya of the DEM Party said, “While the public was being robbed, some people added wealth to their wealth.” Hasan Öztürk of the YENİ Party claimed that the loss of value in the stock market had reached 4.5 trillion lira and that 3 trillion lira of this stemmed from manipulated shares. All of the motions were rejected by the votes of the AK Parti and MHP.
Why it matters
The rejection of the motions eliminates the possibility of the fund crisis allegations becoming the subject of parliamentary oversight; the claims that the SPK remained silent for 11 months and that the unapproved fund was admitted to TEFAS will go unexamined at the parliamentary level. This means the figures cannot be tested by an independent commission: the allegations of 455 thousand 758 victims, a fund size of 268 billion lira and a loss of value of 4.5 trillion lira will remain data put forward by the opposition. The development most directly concerns savers who have invested money in the fund and in stocks, because it is no longer possible to seek an answer through parliament to the question of the supervisory institutions’ responsibility. The vote also lays bare the ruling bloc’s approach to demands for capital market oversight. The question left open is which institution will investigate allegations of this scale, and on what timeline.
Background
Parliament is not a new name in the FikirPilot archive: we have published 8 stories featuring this name in the last 90 days; the most recent is dated October 1, 2026.