Behind the scenes of the stock exchange and fund manipulation scandal revealed

The details of the manipulation process on Borsa İstanbul, which caused thousands of investors to suffer by artificially increasing the market values of certain companies and investment funds in defiance of economic reality, have been brought to light.

Artificial value increases and market imbalances

It was observed that the market values of certain small and medium-sized companies traded on Borsa İstanbul reached levels surpassing Turkey's giant holdings. It drew attention that the values of Özata Denizcilik, a medium-sized shipyard in Yalova, and certain factoring companies exceeded the market values of the country's largest industrial enterprises.

The Ponzi scheme established through funds

The accumulation of stocks with low actual free float by specific funds and driving the price upward through limited transactions created market values worth billions of liras on paper. As the value of the shares held by the funds increased, a perception of high returns was created, and this situation attracted new investors and money into the system, keeping the wheel turning.

Warnings from state institutions and the ministry

The Capital Markets Board and the Ministry of Treasury and Finance detected manipulations carried out through funds and regulatory deficiencies in advance and issued warnings. Although studies were initiated within the body of the Financial Stability Committee, institutional changes and bureaucratic follow-ups experienced during the process caused the steps to be delayed.

International echoes and the clogging of the system

The extraordinary stock surges that confused investors also found a place in international media outlets. With the introduction of new regulations and the publication of the Fund Guide, the Ponzi system began to shake, and operational crisis signals were seen in the sector.