Turkish financial regulators and legal authorities are conducting a probe into suspected market manipulation involving the shares of 31 different companies. This investigation follows a significant investment fund scandal that surfaced in mid-September, when several funds became unable to process investor withdrawals. Officials believe that certain funds were utilized to artificially inflate stock prices, creating a deceptive appearance of value for stakeholders. In response to the ongoing situation, the Capital Markets Board has mandated the liquidation of 131 funds. Meanwhile, nine individuals have deposited approximately 2 billion lira into a recovery account overseen by the Savings Deposit Insurance Fund. The state is currently working to address the fallout from these irregularities and recover assets affected by the alleged misconduct.
Source : Turkish Minute
