The Turkish NTV channel reported today, Wednesday, that the Turkish authorities had ordered the arrest of 15 people on suspicion of transactions involving manipulation on the Istanbul Stock Exchange.
The channel said that the Istanbul Prosecutor’s Office issued the matter against the backdrop of these people of the formation of an organization to commit crimes and defraud the market.
She added that the police are searching for the suspects in Istanbul, Ankara and the Chanli Urfa area in the southeast of the country.
It is noteworthy that Türkiye arrested 17 people last March, on suspicion of causing “unusual fluctuations” in the stock market in Istanbul, and their involvement in the work of manipulating the capital market tools.
The governmental TRT channel explained that the suspects were arrested as part of an investigation conducted by the Public Prosecution in Istanbul on charges of causing artificial fluctuations in the markets to achieve unfair profits.
Open sales
The Turkish Capital Markets Authority banned the open sale on the Istanbul Stock Exchange, in March, and the restrictions of shares and the requirements of the shareholders ’rights are reduced to net assets until April 25, in light of market turmoil after the arrest of the mayor of Istanbul Akram Imamoglu and his imprisonment.
And the open sale is a process that includes borrowing shares from a financial mediator for a commission and selling them in the market, Then buy it Once again at a lower price and return it to the mediator, the investor profit is the difference between the initial sale price and the purchase price.
The Turkish Capital Markets Authority also decided to reduce the condition of the shareholders ’rights levels to the net assets in the credit market transactions, and canceled the maximum amount of the amount used to resume shares of listed companies.
The commission announced that it had taken these decisions to ensure the work of capital markets in a manner that is credible, transparent, stability and to protect investors.
