Manipulation operation at Borsa Istanbul: 17 detained
An operation was conducted against a group carrying out manipulative transactions at Borsa Istanbul. 17 people were detained due to fraudulent activities involving Başkent Doğalgaz shares.
The Capital Markets Board (SPK), during its audits conducted in 2024, identified a group that was misleading investors by performing manipulative transactions on the stock exchange. In this context, 17 people were detained for information-based market fraud involving Başkent Doğalgaz Dağıtım Gayrimenkul Yatırım Ortaklığı (BASGZ) shares.
As a result of simultaneous operations carried out in Istanbul, Ankara, Çanakkale, Mardin, Zonguldak, and Konya, a large-scale investigation was launched into the suspects, who are facing charges of violating capital market laws and forming an organization for the purpose of committing crimes.
WELL-KNOWN STOCK TRADER ALSO ON THE LIST
Among those detained is the well-known stock trader Hasan Meşe. The investigation revealed that between July 27, 2021, and November 8, 2021, they carried out misleading transactions by creating artificial price movements in Başkent Doğalgaz shares. It was determined that the suspects provided target prices for specific stocks through social media and investment groups, thereby misleading individual investors.
The SPK's investigations showed that the suspects engaged in information-based manipulation of the market. These individuals, who misled investors by announcing target prices for BASGZ shares, made significant gains by taking advantage of the rise in share prices. However, the rapid decline of the share values, which had been inflated through manipulative transactions, caused many investors to suffer serious losses.
CRIMINAL COMPLAINT FROM THE SPK
In its weekly bulletin dated December 26, 2024, the SPK announced that it had filed criminal complaints against 20 people and imposed a 2-year ban on these individuals from trading on the stock exchange. Among the names banned from trading are Hasan Meşe, Kenan Yüksek, and Mehmet Özcan. These individuals will be tried on charges of misleading investors through manipulative movements on the stock exchange and violating capital market rules.
News Source: 12punto
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