Istanbul prosecutors order detention of two portfolio managers

Officials said Istanbul prosecutors ordered detention of two senior portfolio managers on Sept. 19, 2026, in a probe into suspected market manipulation; reaction pending.

The inquiry, officials said, covers a series of suspicious transactions in Turkey's capital markets and forms part of a wider investigation into possible manipulative trading on local exchanges. Prosecutors described the probe as extensive and said it has involved review of trading records and account activity.

Two portfolio managers detained

Officials identified the subjects as senior portfolio managers at unnamed firms and said the detention decisions follow evidence gathered during the probe. Authorities did not disclose the specific trades under scrutiny or name the funds involved.

Prosecutors and market supervisors, officials said, are examining whether the transactions distorted prices or liquidity on key listings. The investigation could prompt heightened compliance checks across fund managers and broker-dealers while it is active.

A court review of detention requests will take place within the standard 24-48 hour window and is due by Sept. 21, 2026, officials said. Regulators and market participants are likely to watch for any formal charges or trading suspensions that would follow that review.