Özel Urges Erdoğan to Resign or Call Election Over Investment Fund Crisis

Following the Sept 17 liquidation order, 455,758 investors across 131 funds run by seven portfolio managers (Tera, Pusula, Atlas, Hedef, A1 Capital, Bulls, Pardus) hold about $18.3B in frozen assets. Özel said Erdoğan must either resign or call an immediate election. Erdoğan said the matter is being resolved quickly; interim payments of up to 1M lira per investor per fund are planned. An AKP co-founder warned on Oct 2 the scandal could cost the party elections.