Turkish authorities have detained 12 suspects for allegedly engaging in manipulative actions involving capital market instruments traded on the equity market of İstanbul’s stock exchange, the state-run Anadolu news agency reported on Wednesday.
According to Anadolu, the suspects were detained as part of an investigation launched by the İstanbul Chief Public Prosecutor’s Office’s Anti-Smuggling, Narcotics and Economic Crimes Bureau.
Prosecutors issued detention warrants for 15 people across İstanbul, Ankara and Şanlıurfa provinces on allegations of “establishing a criminal organization” and “market fraud.” Twelve suspects were detained in operations conducted by the İstanbul Police Department’s financial crimes unit.
Search and seizure procedures targeting the remaining suspects are ongoing, Anadolu said.
The development follows the detention of 17 people suspected of causing “unusual movements” in İstanbul’s stock market and engaging in manipulative actions in capital market instruments in early March.