Vice President Cevdet Yılmaz Says No Public Funds Will Be Used in Fund Liquidations
Turkish Vice President Cevdet Yılmaz has said that the liquidation of funds covered by an ongoing investigation will not be financed with public money. Each closed fund, he explained, will be handled according to its own circumstances and structure.
Speaking about the process, Yılmaz said 131 funds are currently within the scope of liquidation. Together, they represent 4.6% of all funds, he stated. Of those 131, 17 have ceased operating, while three have been wound up under ordinary procedures, with all payments completed.
The status of the Atlas fund remains under discussion. Yılmaz said negotiations are continuing and that an orderly liquidation is possible. He added that developments on the matter could emerge during the week.
Yılmaz made the comments while appearing on Anadolu Agency’s Editors’ Desk, where he addressed both the fund liquidation process and the broader investigation. He stressed that the closure of funds does not mean the state will step in to cover their obligations.
“Public resources are not being used in the liquidation process,” he said, adding that funds that have closed will be dealt with on an individual basis. The approach, according to Yılmaz, takes into account the specific features of each fund rather than applying a single procedure to all of them.
He also provided an update on scrutiny of the companies and people connected to the case. Yılmaz said relevant institutions had begun intensive reviews of the firms involved and the individuals working within them. The judicial process is continuing, he added, and company owners are being dealt with through the legal system.
The figures outlined by Yılmaz offer an indication of the scale of the current liquidation effort: although 131 funds are affected, their combined share is reported to be less than five percent of the total. That proportion does not, by itself, explain the financial position of any particular fund, since each case may have different assets, liabilities and payment obligations.
The completion of payments for three funds marks a distinct stage in the process. Their liquidation was carried out under ordinary conditions, Yılmaz said, and all payments were made. The remaining cases may require different arrangements depending on their individual characteristics and circumstances.
For investors and other parties with an interest in a fund, the distinction between ordinary liquidation and an unresolved process is important. Yılmaz’s remarks indicate that the authorities intend to assess closed funds separately, while the Atlas discussions have not yet reached a publicly announced conclusion.
His statement that public money will not be used also clarifies the government’s position on who will bear the costs associated with winding down the funds. It does not provide details about the financial outcome of each case, however; the available information does not specify the amounts involved or the expected timetable for every liquidation.
The investigation and the liquidation work are proceeding alongside one another. Reviews of companies and individuals are underway, while legal proceedings continue through the relevant judicial mechanisms. Yılmaz did not announce a final outcome for the investigation or provide further details about specific people or firms.
For now, the next expected update concerns Atlas, where negotiations are ongoing and ordinary liquidation remains a possible option. Yılmaz said a development could occur within the week, but did not confirm that a final decision had already been made.