Turkey Lifts Asset Freezes on 46 Companies in Market Probe, Media Reports

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 OZATD.IS shares ahead of the market turmoil.