Turkey lifts asset freezes on 46 companies in market probe
NTV and other media reported the freezes were lifted after new assessments and notifications from the Capital Markets Board.
ISTANBUL, Sept 28 (Reuters) — Turkish authorities lifted asset-freeze orders imposed on 46 companies as part of an investigation into investment funds and market manipulation, broadcaster NTV and other media reported on Monday. The Istanbul chief prosecutor's office said in a statement the decision was taken following new assessments and notifications from the country's Capital Markets Board (SPK), NTV reported.
The companies were among dozens of legal entities, investment funds and individuals whose assets were frozen as investigators examined large stock market transactions carried out between July, when the funds reached peak assets under management, and September 16, the day before the SPK ordered the liquidation of scores of funds during a liquidity crisis. Justice Minister Akin Gurlek said last week investigators were scrutinising large share purchases and sales during that period under a probe into alleged market manipulation. Authorities had frozen the assets of 46 companies, 18 funds and 42 individuals and imposed overseas travel bans on 37 people.
At the weekend, a deputy chair of President Tayyip Erdogan's AK Party, Fatma Betul Sayan Kaya, resigned from her party posts after an opposition politician alleged that she and her husband made substantial profits from trading Ozata Denizcilik shares ahead of the market turmoil. Kaya said on X that she considered it necessary to take political responsibility while the allegations were examined and asked Erdogan to relieve her of all the posts she holds. She did not comment further on the specifics of the allegation.
The crisis erupted after suspected price manipulation in a number of thinly traded stocks triggered heavy losses and redemption pressures at investment funds, prompting emergency measures by regulators to support financial stability. com)