Flash development in stock market manipulation investigation! Numerous detentions made

The Istanbul Chief Public Prosecutor's Office launched an investigation on February 23 regarding manipulative price movements occurring at Borsa Istanbul.

Financial crimes units conducted simultaneous operations in various provinces targeting the identified suspects. It has been learned that 17 people have been detained so far as part of the investigation. Authorities stated that the investigation is continuing and expanding.

WHAT HAPPENED?

In February, unusual price movements at Borsa Istanbul drew attention, leading to numerous reports being filed. Evaluating the reports received, the Istanbul Chief Public Prosecutor's Office placed individuals and institutions alleged to have caused manipulation in the markets under scrutiny and initiated an investigation.

The Capital Markets Board (SPK) also announced in a statement that they were examining the suspicious transactions in detail and that legal proceedings had been initiated against all actions threatening market security. 

In the statement made by the SPK, it was said, "The necessary legal actions/investigations have been immediately initiated regarding those who create intentional and misleading news that causes unusual price and volume movements, as well as those who disseminate this news."

News Source: 12punto