[Turkey’s 500,000 Investors Trapped Fund Crisis] September 23rd, as part of an investigation into long-standing “Ponzi-like” operations involving illiquid stocks, Turkish regulators have announced the liquidation of approximately US$20 billion in stock funds and money market funds. It's unclear how much of that money will eventually be recovered. Some investors realize that triple-digit returns are unsustainable and rush to get out before the market crashes, but others have little idea of ​​the risks they face. The Turkish Capital Market Commission said on Wednesday that more than 130 funds were included in the liquidation involving a total of 455,758 investors. These investors had hoped that the high returns offered by funds managed by companies such as Tera Portfoy Yonetimi AS and Pusula Portfoy Yonetimi AS would help their savings beat inflation, which has averaged about 50% in Turkey over the past three years. Tera Chairman Emre Tezmen, the central figure in the fund scandal, was arrested early Wednesday.