Twenty-two detained in İstanbul stock market fraud probe

A total of 22 suspects have been detained in an investigation into alleged information-based market manipulation on Borsa İstanbul (BIST), carried out via social media platforms.

The operation, centered in İstanbul, was conducted across eight provinces this morning.

In a statement, the İstanbul Chief Public Prosecutor’s Office announced that the investigation is focused on charges of violations of the Capital Markets Law, establishment of a criminal organization, and money laundering.

According to the statement, the investigation centers on claims that suspects manipulated the share prices of Ege Endüstri (EGEEN) and Jantsa (JANTS) using social media accounts, committing what is defined under Article 107/2 of the Capital Markets Law as "information-based market fraud." The complaint triggering the investigation was filed by the Capital Markets Board.

Simultaneous raids were conducted in İstanbul, Ankara, Antalya, Kocaeli, Konya, Batman, Ordu, and Amasya. Searches were carried out at the suspects' residences, and digital devices were seized. Investigators are also continuing to trace assets believed to have been obtained through criminal activity. (HA/VK)