Investigation Details and Measures Taken in Stock Market Manipulation Operation
While numerous individuals were arrested in stock market manipulation operations, details regarding the functioning of the system and legal measures taken have emerged.
Following the arrest of 20 people in the stock market operation that is high on Turkey's agenda, the details of the market manipulation have become clear. Experts evaluated artificial price increases in thin stocks and virtual media networks.
Arrests in Stock Market Operation
Within the scope of the stock market operation on Turkey's agenda, a total of 20 people were arrested and sent to prison. With the expansion of the ongoing investigations, new steps were taken by judicial authorities.
Artificial Price Increases in Thin Stocks
Funds engaged in market manipulation focused on thin stocks with low trading volume and low public float. These stocks were easily carried to the ceiling daily with relatively small amounts.
Contrary to the nature of the free market, some stocks achieved a series of ceiling increases one after another, and a serious bubble formed as investors directed their attention to this process.
Virtual Media and Herd Mentality
The process was mainly carried out through marketing in chat rooms on virtual media. Investors ignored fundamental analysis criteria and acted entirely with a herd mentality.
Risk in Money Market Funds
Cash collected in low-risk money market funds was used by showing the assets in equity funds as collateral. With the collapse of stock prices, these funds also came directly under risk.
Legal Process and Operations
In the investigations coordinated by the Bakırköy Chief Public Prosecutor's Office, serious operations were carried out targeting the virtual media leg.
While access bans were imposed on 246 virtual media accounts determined to have engaged in market manipulation, 16 more suspects were arrested in operations targeting the owners of the relevant accounts.