YENİ Party Alleges Capital Market Audit Vulnerability and Suspicious Funds

YENİ Party Chairman Özgür Özel and his economic advisors held a press conference regarding the latest situation in the capital markets, arguing that public authorities have an audit vulnerability regarding stock market manipulations and suspicious fund claims.

Press Conference on Capital Markets

YENİ Party Chairman Özgür Özel came together with his party's economic advisors at the headquarters to evaluate the latest situation in the financial markets. Following the closed-door meeting, YENİ Party İzmir Deputy Ümit Özlale made statements regarding the agenda.

Suspicious Funds and Detachment from Economic Reality

Ümit Özlale stated that in Turkey's capital markets, share values detached from economic reality are being created through a few companies, brokerage houses, portfolio management companies, and funds. He noted that inflated values mislead savers.

Özlale conveyed that the size of the suspicious funds is stated to be around 10 billion dollars, expressing that small financial or maritime companies can surpass giant holdings.

Audit Vulnerability and Losses Suffered by Citizens

Emphasizing that pricing detached from economic fundamentals is not a natural result of the market, Özlale argued that there is a serious audit vulnerability on the part of public authorities.

Expressing that citizens who do not invest in high-risk funds but try to protect their savings against the cost of living are also affected by this process, Özlale stated that the futures of savers are being stolen.

Questions Directed at Institutions and Call for Action

Stating that despite past official statements, the first regulation was made with delay and that suspicious structures grew exponentially during this process, Özlale listed his questions directed at the authorities and shared the steps that need to be taken for the markets.