Türkiye extends fund wind-down to six months, freezes executives' assets in $18 billion crisis

Türkiye's Capital Markets Board extended the wind-down of 131 investment funds from three months to six on Monday and froze the assets of executives at firms including Tera Portföy and Pusula Portföy, after unpaid redemption requests triggered a stock-market selloff and pushed the lira to fresh lows above 48 to the dollar. Regulators allege the funds manipulated share prices; finance minister Mehmet Şimşek says the liquidation will not put further pressure on the exchange. Justice minister Akın Gürlek says 25 suspects face prosecution, with 10 still at large.

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