Turkey arrests Tera chairman as ‘Ponzi-like’ fund probe affects 450,000 investors
What happened
Turkish authorities arrested the chairman of Tera Yatirim Menkul Degerler AS on Wednesday morning, the brokerage at the centre of the country's current investment fund scandal, with funds worth more than $18 billion (€15.7bn) and held by over 450,000 people now being liquidated.
Summary assembled by rule from the sources below