Turkey detains 14 over stock manipulation probe: state media

Turkish police have detained 14 people in an investigation into suspected manipulation of transactions on the country’s main stock exchange, Anadolu news agency reported on Tuesday.

It said staff from local investment firm Investco Holding INVES.IS were among those detained. Investco’s shares plunged 10 per cent in early trade.

Prosecutors have determined that there were unnatural increases in trading volumes and share prices on Borsa Istanbul, causing losses to small investors, the state-owned agency reported, citing a prosecutors’ statement.

They also found that proceeds from those trades were laundered in violation of the country’s capital markets law, Anadolu said.

Investco representatives were not immediately available to comment when contacted by Reuters.

Prosecutor statements are regularly released via Anadolu.