Turkey has frozen assets linked to executives at multiple investment firms and expanded a probe into a fund-industry crisis that has already produced failed redemptions, arrests and a sharp stock-market sell-off. The justice minister said the measures target executives connected to Tera Yatirim Menkul Degerler and Pusula Finansi and include restrictions on asset transfers by board members, signatories and certain relatives; transfers require prosecutor approval. The action follows last week’s fa

Turkey has frozen assets linked to executives at multiple investment firms and expanded a probe into a fund-industry crisis that has already produced failed redemptions, arrests and a sharp stock-market sell-off. The justice minister said the measures target executives connected to Tera Yatirim Menkul Degerler and Pusula Finansi and include restrictions on asset transfers by board members, signatories and certain relatives; transfers require prosecutor approval. The action follows last week’s failure by several asset managers to meet redemption requests, which prompted regulators to order liquidation of 131 funds managed by seven firms; authorities have opened proceedings against 25 people, with 15 detained and 10 at large.