Mahmut Sütcü, the chairman of Turkey’s Capital Markets Board, has officially stepped down from his position. While Sütcü cited health reasons for his departure, the resignation follows closely behind legal developments involving his predecessor, who is now under investigation regarding a significant investment fund controversy. Simultaneously, Deputy Treasury and Finance Minister Osman Çelik has requested to retire. This administrative turnover occurs as authorities probe a widespread stock manipulation scheme. The scandal has implicated various high-profile figures, including Çelik’s son-in-law, İskender Balcı, who was recently detained in connection with the ongoing investigation. These events have placed considerable pressure on Turkey's financial regulatory bodies as they navigate the fallout from the illicit activities linked to these investment funds.
Source : Turkish Minute
