ANKARA, Sept 21 (Reuters) – Turkish authorities detained 15 people on Monday in an investigation into transactions involving shares of Katilimevim, a listed Turkish savings financing company, while freezing assets linked to executives at several other investment firms, Justice Minister Akin Gurlek said.
Prosecutors launched legal proceedings against 25 suspects in the Katilimevim investigation, Gurlek said in a statement. Ten suspects remained at large.
The Capital Markets Board last week filed criminal complaints against 38 people over alleged manipulation of shares in Katilimevim and two other listed companies, and imposed two-year trading bans on them.
The detentions are part of a widening crackdown on suspected share price manipulation at the centre of a liquidity crisis that has shaken Turkey’s investment fund industry, prompting regulators to freeze scores of funds and order their liquidation.
Authorities froze financial and asset transactions involving executives and officials linked to Pusula Finans Holding, Pusula Yatirim Menkul Degerler, Tera Yatirim Menkul Degerler, Tera Portfoy Yonetimi, Hedef Holding, Hedef Portfoy Yonetimi, Bulls Yatirim Menkul Degerler, Bulls Portfoy Yonetimi and Ufuk Yatirim Yonetim ve Gayrimenkul, Gurlek said on Monday.
The nine companies did not immediately respond to Reuters requests for comment.
The government has instructed banks, notaries, land registry authorities and financial crimes watchdog MASAK to prevent assets under investigation from being transferred or reduced, Gurlek said.
Authorities also ordered strict monitoring of transactions by board members, authorised signatories, their spouses and close relatives that could reduce their assets, requiring such transactions to be cleared by prosecutors.
The investigation was continuing, Gurlek said.
(Reporting by Ece Toksabay; Editing by Emelia Sithole-Matarise)
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