Turks Chase Lost Savings as Fund Scam Snares 455,000 Investors

AI Summary

Approximately 455,000 investors in Turkey were caught in a scam involving a high-flying Turkish stock fund, causing many to frantically sell their holdings. The case highlights risks in the Turkish investment market and concerns over fund management practices.

Two weeks after putting his savings into a high-flying Turkish stock fund on the advice of a relative, Mehmed Kervanci was frantically hitting the sell button on his phone’s trading app.