Turkish authorities expand crackdown on fund managers amid market turmoil

Police detained a number of suspects and are searching for additional individuals linked to alleged market abuse involving several financial groups. Prosecutors have opened proceedings against dozens of people, and courts have imposed travel bans and frozen assets of those named. The Capital Markets Board has ordered state banks to oversee the wind‑down of a large group of investment funds, while the Financial Crimes Investigation Board has been tasked with examining related bank and cryptocurrency transfers. The actions follow a sharp fall in the BIST 100 that triggered a temporary trading halt.