Turkey detains 15 in Katilimevim share manipulation probe

Akin Gurlek: Akın Gürlek is the Minister of Justice of Turkey, appointed in February 2026 after serving as Istanbul Chief Public Prosecutor. In this role, he oversees major investigations and prosecutions. He publicly detailed the detentions and asset freezes in the Katilimevim share manipulation case. Katilimevim: Katilimevim is a Turkish savings financing company licensed by the BDDK that offers interest-free financing models for homes, vehicles, and workplaces through a savings-based system without bank credit or interest. It is the only publicly listed company in its sector on Borsa Istanbul following its 2023 IPO. The company is central to the ongoing investigation into alleged share price manipulation that prompted the recent detentions and asset freezes. Hedef Holding: Hedef Holding is a Turkish holding company with operations in investment and portfolio management through its subsidiaries. Executives connected to the group are included in the asset freezes tied to suspected share price manipulation. Pusula Finans Holding: Pusula Finans Holding is a Turkish financial holding company with subsidiaries in savings financing, brokerage, portfolio management, and participation banking, including stakes connected to Katilimevim. It recently completed a share transfer agreement with Tera Yatırım. Executives linked to the holding are among those whose assets have been frozen in the share manipulation probe. Tera Portfoy Yonetimi: Tera Portföy Yönetimi is a Turkish portfolio management company affiliated with Tera Yatırım. It features among the firms whose executives face asset restrictions in the Katilimevim-related investigation. Bulls Portfoy Yonetimi: Bulls Portföy Yönetimi is a Turkish portfolio management company associated with Bulls Yatırım. It appears on the list of firms facing executive asset restrictions in the manipulation case. Hedef Portfoy Yonetimi: Hedef Portföy Yönetimi is a Turkish portfolio management firm under Hedef Holding. It is among the entities whose officials' financial transactions are under strict monitoring in the ongoing probe. Tera Yatirim Menkul Degerler: Tera Yatırım Menkul Değerler is a Turkish investment firm involved in capital markets activities and recently agreed to acquire Pusula Finans Holding. Executives linked to the firm are subject to asset freezes as part of the wider share manipulation inquiry. Bulls Yatirim Menkul Degerler: Bulls Yatırım Menkul Değerler is a Turkish brokerage and investment services firm. Linked executives have had their assets frozen as authorities investigate share manipulation involving Katilimevim. Pusula Yatirim Menkul Degerler: Pusula Yatırım Menkul Değerler is a Turkish brokerage firm offering services in securities trading, derivatives, portfolio management, and investment advisory as a subsidiary of Pusula Finans Holding. It is one of the investment firms whose executives' assets were frozen amid the Katilimevim investigation. Ufuk Yatirim Yonetim ve Gayrimenkul: Ufuk Yatırım Yönetim ve Gayrimenkul is a Turkish investment and real estate management firm. Executives tied to it are subject to the asset freezes and transaction monitoring announced in the Katilimevim investigation. Industry Impact: The detentions form part of a broader regulatory effort to resolve a liquidity crisis affecting Turkey's investment fund sector, with multiple funds already frozen and ordered liquidated. Market Regulation: Turkey's Capital Markets Board filed criminal complaints and imposed trading bans last week against individuals accused of manipulating shares in Katilimevim and two other listed companies.