New development in Borsa Istanbul manipulation operation: 4 people arrested
The Istanbul Chief Public Prosecutor's Office had reported that 11 people were detained in operations conducted in Istanbul and Van following a complaint by the Capital Markets Board regarding the detection of manipulation in the shares of Yenilenebilir Elektrik Üretim Anonim Şirketi (PAMEL).
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In a statement from the Chief Public Prosecutor's Office, it was announced that 4 of the 11 detained individuals have been arrested.
The statement is as follows:
“Within the scope of the file numbered 2024/293366, conducted by the Money Laundering Investigation Bureau of our Chief Public Prosecutor's Office, suspects Ahmet Kızılay, Botan Çevarün, Eda Yıldırım, Enes Özgür Karataş, Eyüp Balka, Hasan Göçmen, İhsan Kenan Bilgiç, Kamil Bilgiç, Kenan Demirbaş, Kerim İsmail Bilgiç, and Sinan Demirbaş were detained on 27.09.2025 due to the detection of manipulation in PAMEL shares.
Following their statements and other judicial procedures, suspects Ahmet Kızılay, Botan Çevarün, Enes Özgür Karataş, and Hasan Göçmen, who were referred to the courthouse on 30.09.2025, were arrested by the duty magistrate. Suspects Sinan Demirbaş, Kenan Demirbaş, Eda Yıldırım, İhsan Kenan Bilgiç, Kamil Bilgiç, Kerim İsmail Bilgiç, and Eyüp Balka were released under judicial control measures.
The comprehensive investigation is being carried out in a multi-faceted manner while adhering to confidentiality.”