Prosecutor's statements of Tera Investment Holding Chairman Emre Tezmen and former Tera Portföy General Manager Alper Öztürk, who were arrested within the scope of the investigation carried out by the Istanbul Chief Public Prosecutor's Office regarding the transactions carried out in the capital market, were revealed.
The prosecutor's office asked Tezmen whether the money collected in the funds was used to increase Tera's own shares, whether money was taken from the company owners in return for increasing the share price, how the rise in the companies, whose total value increased from approximately 9 billion lira to 620 billion lira, took place, and the billions of lira money movements detected by MASAK.
'IT IS NOT POSSIBLE FOR HIM TO MAKE SUCH A DECISION ON HIS OWN'
In his statement, Emre Tezmen stated that he made the strategic investment decisions in the Tera Group, which consists of approximately 40 companies, and that he had nothing to do with which shares the funds bought and sold. Alper Öztürk stated that it is not only the decision of the portfolio manager in the transactions and said, "It is not possible for him to make such a decision on his own. This decision is made by the senior managers of the controlling partner and is a reflection of the will of the controlling partner."
THE REASON FOR THE INCREASE IN THE COMPANY'S MARKET VALUE WAS ASKED.
When asked why Tera Yatırım's market value reached 280 billion lira in a year, from approximately 1.4 billion lira, Emre Tezmen said, "This is not an inflationary increase. Even this price is still cheap."
HE SAID THAT IT IS NOT LEGALLY PROHIBITED FOR TERA FUNDS TO BUY SHARES OF GROUP COMPANIES
The Prosecutor's Office asked Tezmen, "Was the money collected in the funds used to buy shares of companies under your control and increase their prices?" posed the question. Rejecting the allegations, Tezmen said that Tera funds are not legally prohibited from buying shares of group companies and that price increases do not benefit him. In addition, the prosecutor's office asked whether money was taken from the company owners in exchange for purchasing the shares of the companies with PYŞ funds and increasing their prices. Tezmen rejected such a relationship.
HE STATED THAT THE MANAGERS' FAILURE WAS NOT FOUND
The prosecutor's office also asked Tezmen whether he considered himself responsible for the suffering of thousands of citizens who could not collect their money due to Tera PYŞ's default. Tezmen stated that he was sorry for what happened, but that there was no fault of Tera or its managers. Claiming that approximately 300 billion lira withdrawal requests were received in one day, Tezmen evaluated the events as panic in the market.
ASKED ABOUT MONEY TRANSFER OF 1 BILLION 159 MILLION LIRAS
According to the MASAK report, the prosecutor's office asked Tezmen to send 1 billion 159 million 772 thousand liras at once to Özen Kuzu on August 28, 2026 and ask for his documents. Tezmen said that he thought the transaction was related to the purchase of Prive Sigorta, but he did not remember the details.
'MY FUND MANAGEMENT WAS ON PAPER'
Tera PYŞ General Manager and Board Member Alper Öztürk said in his statement, "My portfolio management was just a formality on paper." Öztürk also said that he was disturbed by the transactions in Vişne shares, that he warned the employees and that the transactions in question were subject to CMB investigation. After the CMB requested a defense from Tera PYŞ, Öztürk explained that he decided to resign from all portfolio management positions. Öztürk stated that he resigned from Tera PYŞ General Manager and Board of Directors membership on January 12, 2026, but continued to work as a consultant at Tera Portföy on the date his statement was taken, and stated that he provided support in financing from foreign banks and venture capital projects. Thereupon, it was determined that Öztürk's working relationship with Tera Group, who said that he quit his job as a fund manager after the CMB review, did not end completely.
