This updates my previous report. This is an in-depth ChatGPT report that collects actual progress on the investigation, allegations, and other relevant information. PUBLIC RECORD RESEARCH REPORT Türkiye Investment Fund Crisis Tera, Pusula and the widening investigation 6 OCTOBER TO 9 NOVEMBER 2026 / TÜRKİYE TIME By early November, the investigation had reached former political … Read more
I have told you the story of my friend’s imprisonment. It has been more than a month now. It is taking a toll on me, and I just can’t think of the lives of many Turkish citizens imprisoned because of sham trials. Turkey ranks 117th out of 143 countries in 2026 rule of law index … Read more
MSCI is responding to concerns about the same underlying problem: funds closely connected to listed companies may hold and trade their shares in ways that obscure who really controls them and how much stock is genuinely available to independent investors. However, MSCI’s announcement does not name Tera or Pusula or make a criminal finding against … Read more
Dear readers, I have, from time to time, reported on sham trials against opposition municipalities. I’ve reported on so many cases that I stopped reporting altogether recently. There may be real corruption cases, of course, but no one can convince ordinary citizens that these are essentially politically motivated. Here is what happened in one of … Read more
İsmail Saymaz and Murat Ağırel are wearing electronic ankle monitors because a court placed them under house arrest in an investigation into their reporting and comments about investment-fund and capital-market transactions. Prosecutors allege that their statements misled the public; both journalists dispute that allegation. This is a judicial-control measure during an investigation, not … Read more
Why the fck did they invest? As if they need this. Besides Norway’s Fund, Citibank seems like another foreign loser. The foreign names emerging in the current Tera/Pusula investment-fund scandal are Norway’s sovereign wealth fund and, more tentatively, Citibank. But the key distinction is exposure: reporting identifies investments in shares linked to the investigation, not … Read more
Türkiye’s Investment-Fund Scandal: TERA, Pusula and the September–October 2026 Fund Crisis Status as of 6 October 2026. Türkiye is dealing with a large, still-unresolved capital-markets crisis centered on investment funds managed by Tera Portföy and Pusula Portföy, but extending to Atlas Portföy, Hedef Portföy, A1 Capital Portföy, Bulls Portföy and Pardus Portföy. On 17 September, … Read more
T24 is just so mainstream. It is a pity that it was banned yesterday. Turkish authorities were very generous in censoring web sources in 2026. T24 news site shut down over ‘LGBT propaganda Below is a source-checked list of identified targets, not a claim that these are every 2026 restriction.[ifade.org][bianet][ifade.org] Websites and platforms Target 2026 … Read more
My dear Beşiktaş suffered badly from the referees’ decisions. Now we see why. Türkiye’s Central Referees Committee, the MHK, is at the centre of a criminal investigation into how referees were classified, evaluated and assigned. Its chair, Ferhat Gündoğdu, and six others were detained on 29 September 2026. The crucial distinction is that these are … Read more
We may be witnessing one of Türkiye’s biggest financial scandals. Here is a roundup by Perplexity: The TERA Fund Scandal in Türkiye Status: 27 September 2026 Executive assessment The “TERA scandal” is best understood as a fund-liquidity crisis combined with a widening criminal investigation into alleged market manipulation, self-dealing, fraud and suspicious money flows. It … Read more
I have asked Perplexity to collect information about Schengen visa application rates. Here is what we found: For the ten most recent fully published years (2015–2024), the acceptance rate for Schengen short-stay visa applications lodged in Türkiye fell markedly overall—from roughly 96% in 2015 to 85.5% in 2024—with the sharpest deterioration occurring after 2017 and … Read more
As of the 12–13 September 2026 operation, it now reaches beyond the routine suppression of Pride marches to include criminal investigations, raids on civil-society organizations and venues, detentions, online censorship, and policies framed around “family” and “morality.” The latest September 2026 operation alone placed 162 people, nine associations, and 13 businesses under investigation across 15 … Read more
The European Court of Human Rights’ Grand Chamber ruling of 25 August means that Turkey is under a binding legal obligation to release Osman Kavala and remedy the consequences of his conviction. The Court said he should be freed “at the earliest possible date” and that the conviction cannot lawfully continue to justify his imprisonment … Read more
Netanyahu and his government are so belligerent and act with impunity that I would not be surprised if Israel attacked a Turkish entity directly. But one should also keep in mind that it is election time and Netanyahu likes to escalate things with Türkiye. Here is a roundup of recent developments: Israel’s recent posture is … Read more
After the Süleymancılar, “Furkancılar” is also under investigation. This is a relatively small group based in Adana. Their type of activism differs greatly from that of the Süleymancılar, who have been exposed to a judicial process. The August 2026 Crackdown on the Furkan Movement in Turkey: Law, Politics, and Religious Civil Society Executive summary Turkey’s … Read more