Turkish Justice Minister Akin Gurlek announced Monday that 15 individuals were detained in connection with a probe into suspicious transactions involving shares of Katilimevim, a publicly listed savings‑financing company. The detentions are part of a broader effort to curb alleged share‑price manipulation that has contributed to a liquidity crisis in Turkey’s investment‑fund sector.
Legal actions and ongoing investigations
Prosecutors have launched legal proceedings against 25 suspects linked to the Katilimevim case, with ten suspects still at large. The Capital Markets Board recently filed criminal complaints against 38 people for alleged manipulation of Katilimevim shares and those of two other listed firms, imposing two‑year trading bans on the accused.
Asset freezes target multiple investment groups
Authorities have frozen financial transactions and assets associated with executives and officials of several firms, including Pusula Finans Holding, Pusula Yatirim Menkul Degerler, Tera Yatirim Menkul Degerler, Tera Portfoy Yonetimi, Hedef Holding, Hedef Portfoy Yonetimi, Bulls Yatirim Menkul Degerler, Bulls Portfoy Yonetimi, and Ufuk Yatirim Yonetim ve Gayrimenkul. The government has instructed banks, notaries, land‑registry offices and the financial‑crimes watchdog MASAK to prevent the transfer or reduction of assets under investigation.
In addition, strict monitoring has been ordered for transactions conducted by board members, authorized signatories, their spouses and close relatives, requiring prosecutor approval for any asset‑reducing moves.
The investigation remains ongoing, and the nine companies named did not immediately respond to Reuters requests for comment.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
