Probe into Turkish Capital Markets Targets Investment Funds and Trading Firms

Investigations are underway in Turkey into an alleged investment fund scheme that impacted the country's capital markets and stocks. The probe focuses on transactions involving 131 investment funds held by seven companies due to suspected share price manipulation in thinly traded stocks. Authorities have requested financial data from financial firms regarding the executives of these companies. The inquiry also involved the detention of Erdin Özel, the chairperson of Tera Portföy.

The investigation follows investor withdrawals and a slump in the benchmark stock index. Authorities stated that the risk is confined to a specific segment of the market and that there is no structural problem in the markets.