Politics
Before Tera’s 95% Crash, Punches Were Thrown and Warnings Missed
Key Points
EXCLUSIVE Thrown Punches and Missed Warnings: Inside a Billion-Dollar Fund's Collapse Long before Tera imploded, suspicious trading had begun to alarm executives, investors and regulators By all outward appearances, life was good, very good, at Tera Group, the boutique firm that had gone from obscurity to the talk of Istanbul in a matter of months. This was back in the late days of last winter, and Tera’s stock had improbably just skyrocketed 2,000%, bathing Emre Tezmen, the wunderkind...
EXCLUSIVE
Thrown Punches and Missed Warnings: Inside a Billion-Dollar Fund's Collapse
Long before Tera imploded, suspicious trading had begun to alarm executives, investors and regulators
By all outward appearances, life was good, very good, at Tera Group, the boutique firm that had gone from obscurity to the talk of Istanbul in a matter of months.
This was back in the late days of last winter, and Tera’s stock had improbably just skyrocketed 2,000%, bathing Emre Tezmen, the wunderkind founder, and his inner circle in riches and fame. There was a steel-gray Learjet 60 waiting for Tezmen, a newly minted billionaire, at the airport; a seat at the table at university and corporate boards; and a project underway to build villas along Spain’s sun-splashed Mediterranean coast.