Statements from Minister Gürlek about funding and arbitrator investigation

Highlights from Minister Gürlek's statements: There is a profit gained from shares, which are called shares, by entering and exiting them in an abnormally short time. This of course caught our attention. Our friends also wrote a letter specifically for CMB investigation permission on this issue. We even met in person. Of course, thanks to our Minister, he was also following this process. He had statements about the funds. The latest investigation permission was given to the warrant we wrote in August. This is how the fund investigation began.

The Chief Public Prosecutor's Office can only investigate these crimes when permission to investigate is given. There is currently an ongoing investigation process. But of course I want to express this. Especially the Turkish market and the Turkish economy are very strong. The apple of our eye. An incident that occurred in a small part here should not be spread to the general public. Our President Recep Tayyip Erdoğan has been following the process here since the beginning of the process. It provides instant information. We constantly had discussions and meetings with our Minister of Finance on this issue. As you know, the Fund Coordination Board was recently established under the Presidency of Mr. Cevdet Yılmaz. Our Minister of Finance is also in this board, we are also in this board. We are dealing with daily routine transactions here, these are completely at the discretion of the boards within the scope of the free market economy. It looks at these, which we will talk about within the scope of the notices, complaints we receive or the investigation permissions given to us. There are ongoing processes right now.

As of September 17, the CMB decided to liquidate the funds. As soon as the decision was made, we, as the Chief Public Prosecutor's Office, took all preventive measures within the scope of the investigation permissions given. Especially as of now, 85 suspects have been arrested. Action was taken against 206 people. And many people's assets were frozen.

Likewise, our friends took the necessary precautions to prevent goods smuggling. Because, as you know, smuggling of goods can be done very intensively. We also saw it during the investigation phase. Two days after the investigation, a person, who I will not name, the wife of a detained person, gave instructions for a money transfer of around 40 million abroad. But of course, this transfer of instructions was prevented in accordance with the letter of our chief prosecutor's office, the Istanbul Chief Public Prosecutor's Office. Here the State Supervision Agency also stepped in. You know, is there any negligence by institutions, especially here? Our institutions are very respected institutions. Our President assigned the State Inspection Agency the task of determining whether these were negligent or not. They will examine it. Later, if there is negligence, fault, intent or bad faith, a study will be carried out on the institutions. But I want to say this. We saw this here, especially regarding the fund investigation. There is a legitimate investment that some of our citizens have invested tooth and nail in good faith. These are normal, of course. But we also saw this. Especially in closed funds or open funds, there are incredibly exorbitant amounts of money earned by entering and exiting in a short time with bad intentions, through tips they received from insiders, inside information, and manipulative actions. So, we have already started the investigation regarding them. We know that there is CMB and Istanbul Stock Exchange, but also the Central Registry Agency. In accordance with all the lists coming from there, our Chief Public Prosecutor's Office, the Istanbul Chief Public Prosecutor's Office, has issued injunctions against all these individuals, whether they are companies or normal individuals, who act manipulatively and make exorbitant or unusual profits in a short time. He froze his assets. Some of them were arrested, some are fugitives. There are bans on going abroad. There is an ongoing process. This is entirely under the supervision of an independent judiciary. But here I want to remind you this again. In other words, the Turkish market, Turkish funds, Istanbul Stock Exchange are the apple of our eye. We especially want to underline this. There is a process going on here. We carry out it meticulously. Our investors, well-intentioned investors, our shares and our companies should not be particularly affected by this process. Here too, especially since our President took control of the process from the very beginning, Cevdet Yılmaz, as you know, a Fund Stability Board was established under the chairmanship of the Vice President. Especially these are the ones who make decisions. The CMB independent board also took some decisions. We, as the Chief Public Prosecutor's Office, follow the process, but as the Chief Public Prosecutor's Office, we can only take action within the scope of the permission given, that is, within the scope of the lists sent by the CMB and the lists sent by Borsa Istanbul and the Central Registry System. So, after all, there is technically no data in the Chief Public Prosecutor's Office. These routine transactions, daily transactions, stock market transactions, ongoing processes are ongoing processes by completely independent boards.

HOW WILL THE PROCESS WORK FOR REFUNDS?

Of course, CMB made some decisions in particular. According to his own decisions, it was decided to refund the money of the well-intentioned investors up to 1 million TL. Now a system has been established here. I want to tell you this. In particular, we have the following findings. As I just said, according to the records sent from the CMB and Borsa Istanbul, our attorney general friends and prosecutor friends determined the following. He made incredible manipulative moves in a short time, and for example, he entered in two months and exited in very high amounts. So he made a profit. We have a study on these, we have a list. These people were already arrested and their assets were seized. We also confiscated their personal property in accordance with the decisions of the board established here and the decisions of the CMB. You know, in this business, we seized all the assets of portfolio managers and fund managers.

"5 PEOPLE RETURNED THEIR ILLEGAL EARNINGS"

An account refund was opened at SDIF within the framework of the determined principles. Especially against people who want to return, who want to return on a voluntary basis. I met with our TMSF President yesterday. 5 people also made refunds to these accounts. All their assets are transferred to SDIF within the framework of the law and legal principles. Later, people who make unfair profits and exorbitant profits will, of course, be refunded by SDIF. After making the extradition, he will write the necessary letter to the prosecutor's office. There is article 107 of the CMB Law, that is, the Capital Markets Law. This manipulation is organized here. In other words, covering twice the damage is an effective reason for regret. But the closure of this investigation does not mean the closure of the file. It is just a reason for discount regulated by law. In other words, the perception that no action will be taken against those who repaired the damage is wrong. Action will definitely be taken against them. There are people arrested now. There are those who earn exorbitantly and are subject to travel bans or property measures. There is an ongoing process here.

We see that the investigations will continue. Because this is a sophisticated process. It's a technical process. It takes time to determine who gets how much profit and benefit. We have lists. In particular, there are lists sent by CMB and MKK, the sub-unit of the Istanbul Stock Exchange. We made these lists. We have information especially about individuals, legal entities, companies and similar elements who earn exorbitant profits in a short time. We have already taken the steps.

I want to say this here. Our President is also very clear and clear in his speeches. We will definitely seek our rights within the framework of the law from these people who are reaching into our nation's pockets and making unjust profits, and we will transfer these unfair gains to the fund established within the TMSF. So, as you know from here, some of the investors' losses will be compensated within the framework of the decisions taken by the CMB and the established board, the high board. But as you know, goods were smuggled within the framework of the law, and there were incidents that were reflected in the press. They made some money transfers in a short time. We have initiated judicial processes to bring the money sent to Switzerland. We confiscated his personal property. We put a precaution, we put a precaution in the title deed. There are still issues we are currently researching.

You know, it was reported in the press two days ago or yesterday. There are lot transfers via virman. We also worked on these. I definitely say this to our citizens. Within the framework of the law, we will do whatever we can to collect the money from people who earn exorbitant amounts in a short time, who get tips and enter into business, in a way that will protect the rights of our citizens until the end. So the state is definitely following this. We will follow the process until the end, within the framework of the law.

"LET OUR CITIZENS BE CONSIDERED"

Our Minister of Finance and Mr. President have been following the process continuously since the very beginning of the process. We are in constant consultation. Currently, the Stability Board has been established. We also agree. Meetings are being taken. In other words, all institutions of the state are in consultation. I would like to say this to our citizens from here: they should be of peace. In other words, our market, the Istanbul Stock Exchange, and our investors will not be affected by this process due to the ongoing investigations. These are ongoing processes, but on the other hand, there are measures taken by our Ministry of Finance. With the measures taken by the CMB, capital market institutions and our independent institutions, all institutions of the state have been carrying out the measures in cooperation and coordination with the instructions of our President since the very beginning. I definitely want our citizens to trust the Turkish economy, Turkish capital and markets in this regard. The process continues. We only look at the judicial process, but the daily routine transactions of the stock exchange, etc., are, as you know, an ongoing process by independent boards.

REFEREES FILE

An investigation was launched on the file called the referees file, on the allegation of forgery of official documents and mobbing. In particular, as you know, an investigation was launched regarding the fact that some referees were given privileges to certain matches, some referees were excluded from the classification, and referees were subjected to mobbing on this issue. Chairman of the Central Referee Board, Ferhat Bey, was arrested. There is an ongoing process. Of course, as you know, referees have an exam, official exam. The Istanbul Chief Public Prosecutor's Office conducted an investigation on the grounds that these exam questions were distributed in advance, some referees were subjected to mobbing, and some referees were deliberately prevented from taking part by giving them bad grades or initiating disciplinary processes. As far as I know, two more referees were arrested yesterday. Currently, the number of detainees and detainees is 5, the number of judicial controls is 2. There is an ongoing process. But I want to say this. Turkish football must be clean. I follow too. All our people follow the screens from the beginning. In other words, we want the referees to officiate the matches within the framework of justice, without being dependent on anyone, and by following the rules. But unfortunately, in the investigations we conducted, we saw that this was not the case.

There is evidence in the file regarding this. You shared some MASAK reports. There are HTS records. Especially WhatsApp correspondence. There is an ongoing process in the correspondence between the President of the Central Referee Board and other people, alleging that the referees are being pressured, mobbing, or that some referees are specially assigned to some matches, and that privileges are given in their exams and exam questions are given. Hopefully, we want Turkish football to be clean.

We are like this in law. Our prosecutors act according to concrete data and evidence. Of course, complaints have been made about this issue, denunciations are coming, but it is necessary to make it concrete. In other words, there must be concrete evidence that this referee made the rule mistake in this derby match deliberately or for a benefit. Of course, complaints have been made about this. But here the law acts according to the evidence. So, in terms of what you said, when I met with my friends, they said there was nothing wrong with me. There must be concrete data. Here too, concrete data is very important. MASAK is important, HTS records are important. As you said, these referees' examination questions are given in advance, some referees are excluded from the classification, especially through mobbing, and a certain referee group is directed to the same derby matches. These are important. But if there is concrete data, especially whether the referees made the rule mistake knowingly, in bad faith, or in exchange for a benefit, all of these are investigated. But there is no such thing right now.

As you know, the Football Federation looks at it from a discipline perspective. They have their own units, but of course prosecutors look at it differently. In that process, the Football Federation provided some data, especially during the betting process, regarding players, managers or betting processes. But the process they follow is different from the process we follow. In other words, the Football Federation can impose discipline. As a disciplinary matter, a club president or someone involved in betting can be given a penalty of deprivation of rights. In other words, sometimes the deprivation of rights given there may not be a criminal offense in the sense of the prosecutor's office. The criteria we look at are different. Of course, we look at it differently. For example, in order for an illegal bet to be made, a football player must be in his own match. He needs to play. But for example, if the player plays in another match and does not play in that match, it is not considered a crime. But according to the Football Federation, this is a disciplinary penalty. The criteria for these two are different. We are also in consultation with them. They give us the necessary information and documents. So there is a coordination process right now.

Now, the referees have an allegation of match-fixing, that is, an allegation of match-fixing and incentive bonuses. They walk separately, commit separate crimes. But of course, an incentive bonus can be given here as a result. This can also be given to football players or the referee. So there are similar aspects as well. Likewise, are there any referees who place bets? This is also being investigated. This could happen too. All of these are completely technical and can be done based on concrete data. MASAK reports are very important here. HTS records are important. As I said, there is an ongoing process before our Istanbul Chief Public Prosecutor's Office. Will we be able to watch safer matches while watching derby matches? That's our aim. There are people who work here, there are those who shed their sweat, there are those who follow in the field, there are those who watch in front of their screens. We work to keep football clean. Because there should definitely be no encouragement, no match-fixing, no ill will, no deliberate turning a blind eye by the referees. Referees must manage the matches within the framework of the rules of justice and fairness. Our aim is to keep football clean. Because, as you know, our teams play in competitions abroad, we have a national team. We follow these processes.