Former Erdoğan adviser detained in Türkiye over alleged investment fund fraud

Former Turkish lawmaker Ertan Aydın, who served as an adviser to Recep Tayyip Erdoğan during his tenure as prime minister, has been detained in Türkiye as part of a large-scale investigation into alleged irregularities involving investment funds.

According to Turkish media reports, the investigation is being conducted by the Istanbul Chief Public Prosecutor’s Office.

Aydın was detained in Ankara, after which a decision was made to transfer him to Istanbul for investigative procedures. The case concerns alleged violations in transactions involving shares of Işıklar Enerji ve Yapı Holding, Vişne Madencilik, Odine Solutions and Tera Finansal Yatırımlar Holding.

The investigation was launched following reports by Türkiye's Capital Markets Board (SPK) and complaints received by the authorities. Arrest warrants were issued for 31 people as part of the probe. Law enforcement officers initially detained 26 suspects, with the total number of detainees later reaching 31.

Among those detained most recently, alongside Aydın, were Tera Holding Deputy General Manager Seda Tarım Kocabalkan, KUYAŞ investment company head Abdullah Dal, as well as Fahri Uğur and Hakan Eryılmaz.

It was previously reported that Aydın was among the organizers of Recep Tayyip Erdoğan’s 2023 election campaign. He also served for a period as a member of Tera’s board of directors. In early October, it became known that a travel ban had been imposed on the former lawmaker, preventing him from leaving Türkiye.

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