Nine suspects return 2 billion lira in Borsa Istanbul manipulation probe

The judicial picture is becoming clearer in the Istanbul Chief Prosecutor's Office's wide-ranging investigation into manipulative transactions at Borsa Istanbul. Within the scope of the investigation, action was taken against a total of 302 suspects: 86 were arrested and sent to prison, 163 people were placed under judicial supervision, and arrest warrants were issued for 35 people.

The most striking development in the investigation occurred during the restitution process. Nine people have deposited a total of 2 billion 1 million 170 thousand lira into a special voluntary restitution account opened at the United Fund Bank under the Savings Deposit Insurance Fund (TMSF). This figure demonstrates that provisions on effective remorse are being applied and that some suspects have chosen to take voluntary action under the pressure of prosecution.

Correspondence sent by the Chief Prosecutor's Office to the Capital Markets Board (SPK) revealed in detail how manipulative transactions were orchestrated. The findings in question focus heavily on portfolio management firms.

The last major manipulation investigation at Borsa Istanbul was opened in 2013; in that case, the number of convictions remained limited, and the legal response to undermining market confidence had sparked debate. In this investigation, however, the number of those arrested reaching 86 indicates that the Chief Prosecutor's Office has set up a much broader network compared to the previous case.