8 detained in Borsa Istanbul fraud probe

ISTANBUL

Some eight people have been detained in a probe that was launched to investigate an alleged stock market fraud.

The suspects allegedly made gains through stock manipulation on Borsa Istanbul.

Authorities established that a total of 10 suspects engaged in an organized activity that violated the capital markets law.

Following the findings that emerged in the initial investigation, the chief prosecutor’s office in Istanbul issued detention warrants for 10 suspects.

Upon the prosecutor’s order, units from the Financial Crimes raided 17 locations in the provinces of Ankara, Muğla and Balıkesir, taking eight of the suspects under custody. Two of the suspects are at large abroad, according to officials.

During the raids, the police seized several laptops, cellular phones, flash disks, hard drives, 5,000 euros, $10,000 and some 70,000 Turkish Liras in cash.

The transactions in the stock exchange will be investigated in all details, President Recep Tayyip Erdoğan vowed last week.