adSep 28, 2026, 15:00

Turkish stock market scandal hits hundreds of thousands of investors, mostly those with low income

Hundreds of thousands of Turkish investors have lost most of their capital after a massive stock market fraud involving over 130 investment funds was exposed. The funds used artificial trading to inflate stock prices, leading to widespread losses when the scheme collapsed and authorities intervened.

Hundreds of thousands of Turkish investors have lost a significant portion of their savings due to a massive stock market fraud scheme. Two investment funds, Pursula and Tera, artificially inflated stock prices by purchasing shares in each other and in small, illiquid companies. This deception created the appearance of high annual returns, attracting many small investors who viewed these funds as a financial lifeline amid Turkey's severe inflation and economic challenges. Many used these supposed returns to cover essential living costs like rent and school fees.

The scheme collapsed after index provider MSCI flagged potential market manipulation and S&P Dow Jones threatened to downgrade Turkey's credit rating. As news of the scandal spread, widespread panic ensued among investors, but the funds lacked the liquidity to cover withdrawal requests. Authorities have since arrested four individuals involved in the fraud, but investigators suggest that investors may only recover 20 percent of their original investments. This leaves an estimated 300,000 people facing substantial financial losses, further worsening their difficult economic circumstances.

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Based on reporting by ad. Translated and condensed by LocalHeadlines.

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