TÜRKİYE ORTA ASYA HABER KKUORDİNATÖRÜ

TURKEY, A HUGE SCAM AND THE STOCK MARKET September 20, 2026 General MIDLE ASIA NEWS: ASTANA WORLD TURKISH NEWS STOCK MARKET SCAM AND SPECULATION UNCOVERED IN TURKEY: WILL THE NATION PAY THE PRICE? The cost of the manipulation and speculation scandal originating from investment funds that erupted in the Istanbul Stock Exchange in September 2026 is not directly borne by the entire public as a tax or public burden; However, due to the chain reaction of the crisis on the market, small investors and fund owners in the stock market were directly and seriously affected. Although the Capital Markets Board (SPK) and judicial authorities tried to bring the process under control, the reflections of the crisis on the "nation" and the market are as follows: The government considers everything permissible in Turkey to avoid losing power, and the constitutional amendment is being used to change the agenda so that the nation does not see this scandal. +1 📊 Who is Paying the Price and How? Direct Victims (Fund Investors): Approximately 350,000 to 500,000 investors who had money in 130 investment funds belonging to 7 portfolio management companies (Pusula, Tera, Hedef, Atlas, A1, Bulls, Pardus) whose liquidation was decided were directly affected. These funds were frozen and the liquidation process is being carried out under the guarantee of public banks (Ziraat Bank and İş Bank). While investors may not lose all their money, they could suffer losses due to the devaluation of assets during the process of converting them to cash. Euronews.com +3 Small Investors in the Stock Market: The bursting of the bubble in manipulated "shallow" stocks and the need for funds to sell their other shares to generate cash caused sharp declines of 5-6% across the Istanbul Stock Exchange (BIST 100). The portfolios of small investors, who had no connection to the incident and simply held shares in normal companies, also lost value due to panic selling. Sözcü Newspaper +4 Macroeconomic and General Public Impact: Such financial scandals do not directly result in a new tax on the public. The Financial Stability Committee (FSC) and the economic administration have stated that the situation does not pose a "systemic risk" and is not of a magnitude to shake the general economy. However, undermining confidence in the stock market and the financial system carries the risk of indirectly affecting macroeconomic balances (exchange rate, interest rates) and consequently the general public, albeit slightly, through inflation, as it could trigger an outflow of foreign investors. CNBC-e +1 🔎 How Did the System Work? (“Ponzi-like Structure”) According to investigations and information leaked to the press, the scheme established by speculators worked roughly as follows: Euronews.com Some portfolio management companies collected a small number of (shallow) shares of companies connected to their business circles on the stock exchange using fund money. These artificial purchases rapidly inflated share prices. When the share price rose, the fund's return appeared very high on paper. Seeing this high return, new investors invested money in the fund; with the new money, the same shares were bought again, further inflating the bubble. When investors started demanding their money back (cash shortages arose), the system collapsed and the manipulation bubble burst. +1 ⚖️ State Actions and Current Situation The state is implementing strict measures to prevent the bill from growing further: Detentions and Arrests: The Istanbul Chief Public Prosecutor's Office issued detention, arrest, travel bans, and asset seizure orders against numerous suspects, including executives from Pusula Holding and Tera Yatırım. Tr724 Liquidation of Funds: The Capital Markets Board (SPK) closed 130 investment funds at the heart of the crisis and transferred their management to Ziraat Bank and İş Bank. These banks will gradually convert the assets held by the funds into cash and distribute them to the rightful owners without further collapsing the market. +3 If you are a fund investor whose money has been blocked as part of this crisis, or if you have stock investments in the stock market, I can provide you with more specific information on how to protect your rights or manage your portfolio. What is your situation? Euronews.com Fund scandal in Turkish markets: What exactly is happening? September 17, 2026 — Fund scandal in Turkish markets: What exactly happened and what are the companies accused of? Euronews. * Economy. * Categories. … Pusula … Tr724 Investigation into fund fraud in the stock market: 5 new arrests September 19, 2026 — Within the scope of the investigation conducted by the Istanbul Chief Public Prosecutor's Office regarding capital market transactions, Pusula Holding Board of Directors… What happened in the Turkish stock market in the foreign press: Liquidation of 130 funds and manipulation investigation September 18, 2026 — What happened in the Turkish stock market in the foreign press: Liquidation of 130 funds and… BLOOMBERG: LIQUIDATION OF 130 FUNDS ON THE AGENDA. Bloomberg, Capital Markets…