12 suspects arrested in manipulation probe targeting Istanbul stock exchange
File photo shows a suspect in handcuffs, escorted by Turkish police officers. (AA Photo)
Turkish authorities have arrested 12 suspects as part of an investigation into alleged market manipulation at Borsa Istanbul, the country’s sole stock exchange.
As part of the investigation initiated by the Istanbul Chief Public Prosecutor’s Office, 17 suspects were detained and later brought to court following their interrogation.
After questioning, prosecutors released two suspects, while three others were placed under judicial supervision. The remaining 12 suspects were formally arrested after being referred to the court.
About the investigation
The investigation, which began on March 4, focuses on unexplained price movements in BIST’s equity market and sudden declines in stock prices.
These fluctuations, which led to sudden declines in stock prices, were considered unjustified by economic or financial factors and harmful to market confidence, transparency, and stability.
Prosecutors identified individuals suspected of conducting fraudulent trading activities, leading to their detention. Law enforcement conducted operations across Istanbul, detaining 17 suspects in connection with the case.
