Politics · Turkey · 6 hrs ago

İstanbul prosecutors investigate sharing of confidential fund-crisis documents

İstanbul prosecutors investigate sharing of confidential fund-crisis documents

İstanbul prosecutors have opened an investigation into people who shared confidential documents about Turkey’s investment fund crisis online.

The prosecutors have not named anyone under investigation or said which documents were shared.

The crisis began in mid-September, when some funds could not meet investors’ withdrawal requests, prompting a stock market selloff and investigations into suspected market manipulation.

Turkey’s securities regulator ordered 131 funds managed by seven companies to be liquidated; the funds held more than 890 billion lira in reported assets, and 455,758 individual investors were affected.

The investigation into document-sharing comes as journalists have been jailed or placed under house arrest over coverage of alleged political links to the crisis, and a court has blocked three related articles.

Prosecutors say publicly disclosing confidential investigation material can be a crime, while the law also protects reporting within lawful limits.

The prosecutors have sent requests to the securities regulator, the İstanbul stock exchange, financial institutions and other bodies, but no further steps in the new investigation are specified.

What people are saying

Publicly violating the confidentiality of an investigation constitutes the offense of ‘violation of the confidentiality of an investigation’ under Article 285 of the Turkish Penal Code, and our office has initiated criminal proceedings ex officio against those responsible for these posts
İstanbul Chief Public Prosecutor’s OfficeProsecutorsvia Turkish Minute

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