Skip to content
MONTEGRE
Sign in
BREAKING
/Turkey Liquidates 131 Funds, Detains 45 in Market Manipulation Probe/Spain wins U-20 Women's World Cup on penalties over North Korea/Gaziantep Head-On Crash Kills 7, Injures 13/Bill Gates Warns AI Could Cause a Billion Deaths Without Oversight/Ecuador confirms arrest of Fito's wife and daughter in Colombia/Sheinbaum Closes National Tour at Zocalo, Defends Sovereignty/Turkey Liquidates 131 Funds, Detains 45 in Market Manipulation Probe/Spain wins U-20 Women's World Cup on penalties over North Korea/Gaziantep Head-On Crash Kills 7, Injures 13/Bill Gates Warns AI Could Cause a Billion Deaths Without Oversight/Ecuador confirms arrest of Fito's wife and daughter in Colombia/Sheinbaum Closes National Tour at Zocalo, Defends Sovereignty

Turkey Liquidates 131 Funds, Detains 45 in Market Manipulation Probe

Capital Markets Board orders liquidation of funds holding $18 billion after detecting price manipulation in low-float stocks.

Sources: Dimokratia, Ekonomim, Greek City Times3 sources ↓|· 1 min read
Turkey Liquidates 131 Funds, Detains 45 in Market Manipulation Probe
Photo: Dimokratia

KEY POINTS

  • SPK liquidated 131 funds worth over $18 billion affecting 455,758 investors
  • 45 suspects detained, 76 total in probe for fraud and market manipulation
  • New August 28 rules on concentration limits triggered liquidity crisis
  • Finance Minister Simsek denies resignation rumors amid confidence crisis
  • Funds exploited low-float stocks to inflate returns and attract capital

Turkey's Capital Markets Board (SPK) ordered the liquidation of 131 investment funds managed by seven portfolio companies on September 17, affecting 455,758 investors and assets exceeding $18 billion. The move followed August 28 regulations targeting excessive concentration in low-float stocks, which triggered liquidity crises when redemption requests surged.

Justice Minister Yilmaz Tunc announced criminal proceedings against 76 suspects, with 45 detained and assets frozen for fund owners, executives, and their relatives. Prosecutors are investigating organized crime, fraud, and market manipulation charges.

“The rumors are baseless and damage economic stability.”

— Mehmet Simsek, Finance Minister

Finance Minister Mehmet Simsek publicly denied resignation rumors yesterday, calling them "baseless" and damaging to economic stability. The crisis has evolved into a broader confidence test for Turkish capital markets.

According to SPK observations from late 2025, funds accumulated large positions in thinly traded shares, inflating prices and paper returns to attract new investor money. This self-reinforcing cycle collapsed when new rules forced diversification and redemptions overwhelmed liquidity.

READ THE FULL STORYat Dimokratia

2 more sources below

TOPICS

#Economy#Investment#Stock Market#Fraud

COMMENTS (0)

0/2000

No comments yet. Be the first.

RELATED STORIES

Economy7 sources

Istanbul Prosecutors Seek Asset Freeze for 106 in Fund Manipulation Probe

Prosecutors allege artificial price surges up to 100-fold via mutual funds and request asset freezes for 42 individuals, including singer Mustafa Sandal's wife Melis Sandal.

Technology3 sources

Anthropic Commits $11.6 Billion to Akamai Cloud Over Seven Years

AI firm secures massive CPU infrastructure deal with warrants tied to future expansion.

Sports5 sources

Fenerbahce General Assembly Approves Former Board Discharge Amid Debt Dispute

Club reports 27.8 billion lira total debt, down 140 million from August, as former president Aziz Yildirim and ex-board member Ilker Alkun clash over financial legacy.

This page was compiled with AI assistance from the outlets named above and passed an automated language check before publication. Montegre has no reporters of its own; the byline names the outlets the story was compiled from. Method and editorial standards