The breaking of the pyramid scheme that Denizbank Branch Manager Seçil Erzan created with the millions she collected from important names of the football and business world has been on Turkey’s agenda for a while. The repercussions of the fraud system established by bank manager Seçil Erzan with the money she collected from hundreds of people continue.
It is stated that millions of dollars and Turkish liras collected from many people, including Arda Turan, Fernando Muslera, Emre Belözoğlu, were delivered with high interest income in the event, which is known as the ‘Fatih Terim Fund’ due to the mention of Galatasaray’s former coach Fatih Terim.
253 percent return promise in 46 days
When you look at the event from another perspective, it’s like a mental lapse. According to rumors, banker Erzan collected a total of 44 million dollars from famous names. It is stated that Erzan received this money with the promise of a 253 percent return in 46 days. The interesting part of the incident emerges at this point. Currently, there is no financial product or instrument in Turkey that gives such a large return in such a short time.
Returns to be obtained through legal means in 5 years
It was calculated how long it would take to reach this return if the investment was made under current conditions. As it is known, investors in Turkey who want to invest their foreign money in maturity use the Currency Conversion TL Protected Term Deposit product. The interest rate applied in this return calculation is equivalent to the policy rate determined by the Central Bank. In many private banks, 30% annual interest is applied.
According to calculations, the $44 million collected by Seçil Erzan with the promise of a 253 percent return would have reached the promised return rate in 5 years under normal market conditions.
