Former Turkish Central Bank Director Arrested in Ponzi Scheme Probe

Turkish authorities arrested Erkan Kilimci, former central bank director and CEO of Tera Finansal Yatirimlar Holding, in an expanding Ponzi scheme investigation. Kilimci resigned last week after only three months in the role, suggesting possible insider knowledge or involvement. The case highlights financial fraud risks in Turkey's investment sector and may signal broader regulatory crackdowns.