Turkish authorities said several top finance executives were detained while others were given a travel ban, according to a statement on Thursday, as part of an investigation related to mass outflows from some funds this week. Pusula Portfoy Yonetimi AS Chairman Muhammed Yariz has been arrested, Istanbul prosecutor’s office said in a statement. The detentions are tied to financial instability following significant withdrawals from investment funds, prompting regulatory scrutiny.

The Istanbul prosecutor’s office confirmed the actions as part of an ongoing probe into potential misconduct linked to the fund turmoil. No further details on the number of executives detained or specific charges were disclosed in the initial statement. The move reflects heightened oversight of Turkey’s financial sector amid market volatility.