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Turkish authorities have issued detention orders for eight suspects accused of manipulating stock prices on the Borsa Istanbul and causing financial losses to small investors, state-owned Anadolu news agency has reported.
It said that the prosecutor’s investigation found unusual price and volume volatility in shares traded on the stock exchange, specifically in one stock.
The suspects are being investigated on charges of establishing a criminal organization and market fraud, Anadolu said, with police seeking the suspects in four Turkish cities.
The case comes amid heightened scrutiny of financial crimes in Turkey, where regulators have pledged to protect market stability and investors. [Reuters]