Türkiye had another quite busy agenda last week.
Foreign Minister Hakan Fidan signaled that Türkiye could become involved in the ongoing war in Yemen under the framework of the Mecca Agreement.
Another topic on the agenda was a FETÖ investigation on the producers and screenwriters of the popular television series Valley of the Wolves (Kurtlar Vadisi).
Another investigation into alleged manipulation on the stock market was the other important news of the week.
Signals of possible involvement in the war in Yemen
Foreign Minister Hakan Fidan made important remarks on the Mecca Agreement and the ongoing war in Yemen during a live television broadcast last week.
Asked whether the Mecca Agreement could be activated in response to Houthi attacks on Saudi Arabia, Fidan said:
“We are seeing very serious attacks on Saudi Arabia’s territorial integrity and sovereignty. Our agreement includes an alliance commitment, and we stand by our word. We are acting in solidarity on this issue and closely following developments as the Mecca Alliance. They may have military needs, particularly in certain technical areas, and we would have no difficulty meeting those needs.”
Türkiye’s Foreign Ministry had previously issued a statement on Yemen, saying:
“We strongly condemn the drone attack carried out by the Houthis targeting the holy city of Mecca.
We reaffirm our support for the sovereignty, territorial integrity, and security of Saudi Arabia, and once again underscore our solidarity.
We reiterate our call for the immediate cessation of these attacks, which also threaten regional stability and security, and for refraining from any actions that would further escalate tensions.”
The statements on Yemen sparked debate in Türkiye.
Felicity Party Chairman Mahmut Arıkan issued a statement on the tensions between Saudi Arabia and Yemen and Türkiye’s possible role. Calling on the government to exercise caution, Arıkan said:
“We are following with concern the claims suggesting that Türkiye has been sending military cargo aircraft to Saudi Arabia and is preparing for an operation against Yemen in the context of the recent tension between Saudi Arabia and Yemen. Great care must be taken to prevent new lines of tension from emerging in our region, to avoid deepening divisions among Islamic countries, and to ensure that Türkiye is not drawn into these tensions.”
Arıkan continued:
“Given its deep-rooted relations with the countries of the region, its strategic position and its historical responsibilities, Türkiye must not become an engaged party to these tensions and conflicts. It must instead act as a fair country that brings the parties together around the same table and produces solutions. In this context, Türkiye should establish contacts with Egypt, Pakistan, Iran and Qatar and form a joint mediation delegation. It should demonstrate a unifying form of leadership that stands for peace and justice and resolves crises. The first topic on such a delegation should be ending mutual attacks, avoiding military steps that could further escalate tensions, and opening direct diplomatic channels. (…)
“It must be understood that the winners of a conflict among brothers and sisters in this region will not be the peoples of the region, but only Zionism and terrorist Israel. We say once again, openly and clearly: Türkiye’s duty should not be to become a party to tensions and conflicts, but to become a center for peace and dialogue.”
The Vatan Party also criticized the statements on Yemen. Party’s Deputy Chairman Utku Reyhan said that the Ansar Allah movement would not attack Islamic holy sites. “The Foreign Ministry and government officials need to be extremely careful in their statements. Yemen does not target holy sites,” Reyhan said.
He continued:
“Where is the evidence that the Houthis carried out an attack on holy sites? The US, Israel and the Saudi government are trying to overcome their own defeat by using the issue of the holy sites. They are trying to overshadow Yemen’s success.
“Türkiye must be extremely careful here. US and Israeli officials repeatedly claim that the Yemenis will attack Islam’s holy sites. We know that Ansar Allah will not attack the holy sites.”
Reyhan also said, “The US, Israel and Saudi Arabia are so cornered that they could even stage such an attack themselves,” and “the Turkish government must avoid language that could make it part of such a plot.”
Another statement on Yemen came from the Communist Party of Türkiye. Party General Secretary Kemal Okuyan warned that Türkiye was being “drawn into an armed conflict as a result of an agreement that was not even brought before parliament.” Okuyan said:
“Foreign Minister Fidan says, ‘There are serious attacks against Saudi Arabia, and we would have no difficulty meeting its military needs.’ We are being drawn into an armed conflict because of an agreement that was not even brought before parliament.
“May we at least ask this question: On what basis do we decide who our enemies are? We are told that Saudi Arabia is under attack, but the Saudis have also attacked Yemen. Yes, there is a civil war in Yemen, but then on what basis did the government decide which side to support in that civil war? The answer that ‘we stand with the UN-recognized legitimate government in Yemen’ is far from satisfactory. For years, this principle was disregarded in Syria, where forces fighting against the legitimate government in the Syrian civil war were supported.
“If the argument is that ‘the Syrian government had lost its legitimacy,’ then compared with the Saudi-backed puppet administration based in Aden, the Houthis, who have the support of a large majority of the country, are far more legitimate. So the question is: On what basis does the AKP government decide who is Türkiye’s friend and who is its enemy?”
FETÖ probe into popular TV series
A FETÖ investigation has been launched into the producers and screenwriters of the popular television series Valley of the Wolves.
The series, known for its storylines involving the mafia and the “deep state”, returned to the spotlight in connection with the suspicious death of former National Intelligence Organization (MİT) officer Kaşif Kozinoğlu in prison in 2011. The producers and screenwriters are now under investigation over scenes allegedly connected to Kozinoğlu’s death.
Kozinoğlu, a MİT officer who had been arrested as part of the Ergenekon case, died under suspicious circumstances in prison in 2011. His death was initially recorded as a heart attack, and the first investigation ended with a decision not to prosecute. However, the case was reopened on August 26, 2026, following a review by the Justice Ministry’s unit dealing with unresolved deaths. A number of people have since been detained as part of the renewed investigation.
The reason the investigation has extended to Valley of the Wolves: Ambush (Kurtlar Vadisi Pusu) is a character named “Kazım Kaşifoğlu,” who is alleged to have been modeled on Kozinoğlu.
According to the allegations, in an episode aired on November 10, 2011, the character was being held in a cell and threatened with death. Kozinoğlu died in prison two days after the episode was broadcast. In a later episode, the Kaşifoğlu character was killed.
In a written statement, the related Chief Public Prosecutor’s Office said a panel of experts would examine several allegations.
These include the portrayal and subsequent killing of the “Kazım Kaşifoğlu” character as a “traitor,” and the appearance in some scenes of vehicle license plates carrying the letters “FG,” allegedly referring to FETÖ (Fethullah Gülen Terrorist Organization) leader Fethullah Gülen’s initials.
Media also reported that investigators would examine whether certain episodes contained pro-FETÖ propaganda, covert messages, organizational instructions or other forms of guidance.
As part of the investigation, screenwriters Raci Şaşmaz, Bahadır Özdener and Cüneyt Aysan appeared at the Courthouse on September 14 and gave statements as persons with knowledge of the case. They were questioned as witnesses rather than suspects.
It was also reported that investigators are examining the screenwriters’ phone records and looking into whether they had any contacts with FETÖ.
Some actors who appeared in the series have also revived allegations that Osman Sınav, who directed the series in its early period, withdrew from the series because of threats from FETÖ which resulted in changes in the script.
Also, a number of people including prison guards who were on duty at the facility at the time of his death have been detained.
Stock market manipulation investigation
Last week, another investigation was into alleged manipulation on Borsa İstanbul and in the investment fund market. A large number of people were detained, while allegations of links to Israel also came onto the agenda.
Following findings by the Capital Markets Board of Türkiye (SPK), the Istanbul Chief Public Prosecutor’s Office launched a large-scale operation over allegations of manipulative transactions in certain shares traded on Borsa İstanbul and in investment funds.
So far, 20 suspects have been arrested, 51 people have been banned from leaving the country, and access has been blocked to 246 social media accounts. The SPK also ordered the liquidation of 130 investment funds operated by seven portfolio management companies.
At the center of the investigation is the intense selling pressure faced by the fund company “Pusula Portföy” in early September. On September 15, the fund company defaulted after failing to repay investors. Subsequently, Pusula Portföy Chairman Muhammed Yarız was arrested, and Pusula Holding Chairman Serdar Turhan was banned from leaving the country.
The investigation keeps widening. So far, travel bans were imposed on 48 people. The list includes executives from Tera Holding, Katılımevi Holding, Bulls Yatırım Holding, Hedef Holding and Destek Yatırım.
Justice Minister Akın Gürlek said a number of suspects, including the chairman and members of the fund’s board, had been arrested and their assets frozen.
246 social media accounts accused of publishing speculative content that could create fear and panic among investors were bloeced.
On September 21, judicial proceedings were launched against 25 suspects over fraud allegations involving shares of Katılımevim Tasarruf Finansman A.Ş. (KTLEV). Fifteen people were detained, while ten suspects remained at large.
Following the developments on Borsa İstanbul, the Capital Markets Board announced a series of sweeping measures on the fund market. The SPK suspended purchases and sales in all investment funds traded on TEFAS and established by Tera Portföy, Pusula Portföy, Hedef Portföy, Atlas Portföy, A1 Portföy, Pardus Portföy and Bulls Portföy.
As a result of joint investigations by the Financial Crimes Investigation Board (MASAK) and the SPK, allegations concerning the suspects’ overseas connections appeared in the media. After investigators determined that money had been transferred abroad, assets and bank transactions linked to the suspects were frozen.
Borsa İstanbul experienced sharp volatility immediately before the investigation. The BIST 100 index at one point fell by more than 7.5 percent on September 16.
Justice Minister Akın Gürlek said in a social media statement: “No one who seeks to exploit the labor and future of our citizens for personal gain will be tolerated.”
Interior Minister Mustafa Çiftçi had also signaled during a live broadcast that further operations would follow: “The operations will continue. We say, ‘the state does not forget.”
Meanwhile, allegations of an Israeli connection have also emerged in the stock market investigation.
As part of the investigation, 201 suspects, including nine Israeli citizens, were detained over alleged links to an Israel-connected international fraud network.
Justice Minister Akın Gürlek described the operation as “a major blow to an Israel-linked international fraud network.”
The investigation, conducted jointly by MASAK, MİT, the Istanbul Police Department and Interpol, reportedly found that individuals linked to Israel held a dominant position in the ownership and ultimate beneficial ownership structures of the companies under investigation.
Investigators also determined that after Israel banned the “binary options” in 2017, the network under investigation shifted its operations to Türkiye and other countries.
Countries targeted by the network reportedly included Switzerland, Sweden, Germany, Hong Kong, Australia, Singapore, the Philippines, Malaysia and Dubai.
Investigators reported that the network had processed approximately $266 million in transactions over two years, and the total amount obtained exceeded $3 billion.
The Israeli Foreign Ministry also issued a statement on the Israeli citizens detained in Türkiye, saying that it is “following the case and working to ensure that the rights of its citizens are protected.”