Arrests made over stock market manipulation allegations

The investigation initiated by the Istanbul Chief Public Prosecutor's Office continues following findings that there were fluctuations in trading volume and share prices of capital market instruments traded on the BIST equity market that were contrary to the ordinary flow of life, and that artificial increases caused losses for small investors.

In this context, the police procedures for the 15 detained suspects have been completed.

Following health checks, the suspects were taken to the Istanbul Courthouse in Çağlayan.

All suspects, whose statements were taken by the prosecutor's office, were referred to the criminal judgeship of peace with a request for arrest.

The court ordered the arrest of 12 suspects, while three suspects were released under judicial control conditions, including a requirement to report to authorities and a travel ban.

MANIPULATION OPERATION

The investigation conducted by the Istanbul Chief Public Prosecutor's Office determined that manipulation had occurred in the shares of Türk Prysmian Kablo ve Sistemleri AŞ (PRKAB) and Doğan Burda Dergi Yayıncılık ve Pazarlama AŞ (DOBUR).

Detention warrants had been issued for 17 suspects identified as having carried out manipulation through social media pages named "Hektor, Hektor As and Borsa Dostlar Konağı" on charges of "establishing an organization for the purpose of committing crimes" and "market fraud."

Taking action following these allegations, law enforcement launched operations to apprehend the suspects in Istanbul, Antalya, Şanlıurfa, İzmir, Kayseri, Malatya, Samsun, Bursa, and Ankara.

A total of 15 suspects were detained during the operation.

News Source: AA