Tera deputy detained as market-manipulation probe expands

Investigators in Istanbul raided offices linked to Tera Holding and Destek Holding on Sept. 18, 2026, detaining Tera deputy general manager İbrahim Bekçi and arresting Pusula Portföy chairman Muhammet Yarız, officials said. Traders and regulators are monitoring affected small-cap names; market reaction to the operations was not immediately clear.

Searches at Tera and Destek centers

Officials said searches also covered Destek Holding, Destek Finans, Destek Kripto Varlık and Destek Yatırım, and that teams executed residential searches as part of the operation. The prosecutor’s office ordered travel bans on 48 people, including Tera chairman Emre Tezmen, citing inquiries by the Capital Markets Board under Article 107/1 of Law No. 6362, officials said.

Officials described the measures as tied to alleged trades across several listed stocks. Prosecutors reported counts linked to specific windows of activity: 27 people in trades at Katılımevim between Oct. 19, 2023, and May 28, 2024; 12 people for Katılımevim activity from March 4 to June 12, 2026; eight people for Gündoğdu trades from Feb. 11 to June 8, 2026; and steps related to Destek Faktoring trades in Oct.–Dec. 2025, officials said. The prosecutor’s office left some cases to judicial discretion, officials added.

If investigators bring formal charges, affected issuers could face heightened selling pressure and regulatory sanctions that would weigh on confidence in linked small caps; if probes narrow to a handful of executives, market impact would be more contained. Officials said the probe is ongoing and under judicial review.

Officials said courts will review detention and travel-ban measures on Sept. 19, 2026.