Istanbul, Sept 30. (dpa/GNA) – Turkish authorities have widened their investigation into a massive market manipulation scandal, that has rocked the country since mid-September, with warrants issued for 217 suspects, Justice Minister Akin Gürlek said on Wednesday.
Gürlek said on X that the probe was not limited to the funds and suspects already named, and price movements in 26 suspicious stocks were also being examined closely.
More than 455,000 investors, many of them small retail investors, have been affected, state news agency Anadolu reported. Many Turks put their savings into equities to guard against the effects of high inflation.
The opposition invited some affected investors to parliament and demanded state compensation.
Fatma Betül Sayan Kaya, a deputy chair of the ruling AKP and a former family minister, has resigned from her post after being implicated in the probe.
Anadolu reported that the prosecutors demanded that the assets of Kaya and her husband be frozen. The opposition accused her of involvement in the scandal and of making profits worth billions of liras.
President Recep Tayyip ErdoÄŸan said on Tuesday that a committee led by the vice president, has been given broad powers to coordinate the winding down of the funds. He promised that shortcomings would be fixed.
The Capital Markets Board (SPK) has liquidated 131 investment funds, which media reports say held assets worth billions, Anadolu reported.
Authorities are investigating whether fund valuations were artificially inflated.
GNA
Gürlek said on X that the probe was not limited to the funds and suspects already named, and price movements in 26 suspicious stocks were also being examined closely.
More than 455,000 investors, many of them small retail investors, have been affected, state news agency Anadolu reported. Many Turks put their savings into equities to guard against the effects of high inflation.
The opposition invited some affected investors to parliament and demanded state compensation.
Fatma Betül Sayan Kaya, a deputy chair of the ruling AKP and a former family minister, has resigned from her post after being implicated in the probe.
Anadolu reported that the prosecutors demanded that the assets of Kaya and her husband be frozen. The opposition accused her of involvement in the scandal and of making profits worth billions of liras.
President Recep Tayyip ErdoÄŸan said on Tuesday that a committee led by the vice president, has been given broad powers to coordinate the winding down of the funds. He promised that shortcomings would be fixed.
The Capital Markets Board (SPK) has liquidated 131 investment funds, which media reports say held assets worth billions, Anadolu reported.
Authorities are investigating whether fund valuations were artificially inflated.
GNA