Kapitalmarkt: Mehrere Festnahmen nach Manipulationsskandal in der Türkei – fast 500.000 Kleinanleger betroffen

Istanbul, Turkey is in turmoil after a capital market manipulation scandal rocked the country. Justice Minister Akin Gürlek announced on Saturday evening via X that the assets of 42 individuals and 46 legal entities have been frozen as part of investigations into irregularities in the capital market. At least 45 people were arrested, including executives from investment firms.

The Istanbul public prosecutor's office cited charges of fraud, violations of the capital market law, and the formation of a criminal association, Gürlek said.

This crisis has plagued Turkey since mid-September. According to the state news agency Anadolu, the Turkish Capital Market Authority (SPK) has liquidated 131 investment funds, many of which held assets worth billions of dollars. Over 455,000 investors are affected, according to Anadolu. Turkish authorities are investigating whether fund valuations were artificially inflated.

Many small investors are reportedly affected due to the massive inflation in Turkey, prompting people to invest their savings in stock trading in hopes of protecting their value from losses. Opposition party Yeni criticized the government, calling for compensation for investors. Turkish President Recep Tayyip Erdogan stated that the issue is limited to a specific area of capital markets and there is no risk to the financial system or the Turkish economy.