2 billion liras returned in Borsa Istanbul manipulation investigation
While 86 people were arrested in the BIST manipulation and portfolio management companies investigation, more than 2 billion liras were deposited into the TMSF account and 31 companies were placed under scrutiny.
In the investigation conducted by the Istanbul Chief Public Prosecutor's Office regarding manipulative transactions in Borsa Istanbul and portfolio management companies, action was taken against 302 suspects, and 86 people were arrested. Within the scope of the investigation, more than 2 billion liras were deposited into the voluntary return account of the TMSF, while shares of 31 companies were taken under review due to fund-linked transactions.
In the judicial investigation conducted by the Istanbul Chief Public Prosecutor's Office, action was taken against a total of 302 suspects. While 86 of these individuals were arrested, judicial control decisions were issued for 163 suspects. Arrest warrants were issued for 35 fugitive suspects.
One of the striking phases of the investigation was the voluntary return process. A total of 2 billion 1 million 170 thousand liras was deposited by 9 people into the special voluntary return account established at United Fund Bank within the body of the TMSF. It was stated that these payments were connected to developments within the framework of effective remorse provisions.
In the examinations conducted by the Chief Public Prosecutor's Office and Capital Markets Board (SPK) experts, it was determined that the share prices of some companies were raised up to 100 times through artificial transactions. It is assessed that the suspects bought the targeted shares through funds instead of collecting them directly from the market, thereby misleading small investors by increasing both the share prices and the unit values of the funds holding these shares in their portfolios.
As a result of the ongoing examinations, shares of 31 companies were placed under scrutiny within the scope of fund-linked transactions. The examined stock codes include ALKLC, ANELE, BIGEN, BTCIM, BURCE, BURVA, CELHA, DMRGD, DSTKF, EDATA, GMTAS, GRTHO, GUNDG, HEDEF, IEYHO, INFO, KERVT, KRDMD, KTLEV, KUYAS, MANAS, ODINE, OZATA, OZSUB, PASEU, PEKGY, PRZMA, SELEC, TEHOL, TRHOL, and VSNMD.