Fatih Terim, a former Turkey and Galatasaray coach, has been subpoenaed in a fraud case linked to ex-banker Seçil Erzan, who is accused of running a high-return investment scheme, the T24 news website reported on Wednesday.
A Turkish court has issued a subpoena for Terim in connection with the case against Erzan, a former manager at Turkish private lender Denizbank, who allegedly defrauded several high-profile football figures through a fraudulent investment scheme.
Erzan is accused of convincing prominent figures in Turkish football, including Arda Turan, Fernando Muslera, Emre Belözoğlu and Selçuk İnan, to invest in what she claimed was a high-yield fund. Prosecutors say she operated an informal system outside official banking regulations, promising investors exorbitant monthly returns of up to 40 percent.
During a recent hearing, Erzan alleged that Terim and several other individuals had received more money than they originally invested. “Fatih Terim and many others got back more than their principal,” she told the court, questioning why only she was being prosecuted. She also said some footballers knowingly engaged in off-the-record financial transactions and that she had repaid portions of the money to certain investors.
Terim, currently coaching Saudi Arabian club Al-Shabab, has not publicly responded to the subpoena. His attorney has argued that the case relies heavily on statements from alleged victims and lacks concrete financial documentation to support the claims.
The scandal, dubbed the “Fatih Terim Fund” due to his name being associated with the scheme, has been under investigation since 2023. Despite the controversy, Terim was not initially included in the indictment when the trial began in November. Erzan, who has been in custody for 21 months, has repeatedly requested her release, citing her mother’s illness and arguing that other individuals involved have not faced prosecution.
The next hearing in the case is expected to determine whether additional witnesses, including footballers who invested in the scheme, will be required to testify.