Türkiye detains scores over manipulation of capital market

ISTANBUL, Sept. 18 (Xinhua) -- Turkish authorities arrested 20 suspects and placed 51 others under judicial control on Friday as part of investigations into manipulation of the country's capital market, Justice Minister Akin Gurlek said.

The move followed a week of sharp volatility at the Borsa Istanbul stock market, while authorities stepping up investigations into suspected market manipulation, said Gurlek.

Four people, including a chairman and fund management board members, were arrested for alleged market manipulation following a complaint by the Capital Markets Board, Gurlek said.

The authorities also banned 51 individuals from traveling abroad and froze their assets to prevent fund transfers.

In another investigation, 16 suspects were arrested for allegedly attempting to manipulate capital markets through social media.

The authorities also blocked 246 social media accounts after an ex-officio investigation found they had shared speculative content aimed at alarming investors.

The sweeping legal actions followed a sharp market downturn earlier this week. The Financial Stability Committee convened early Thursday to assess developments in the capital markets after the benchmark BIST 100 index plunged more than 7.5 percent at one point on Wednesday.