Türkiye’s Capital Markets Board (SPK) has decided to file a criminal complaint against 37 individuals following its investigation into Tera Finansal Yatırımlar Holding.
The SPK said the measures relate to transactions conducted in the shares of Tera Finansal Yatırımlar Holding. The regulator imposed a two-year ban from trading on the stock exchange and other organized markets on the 37 individuals found responsible, as well as on Tera Yatırım Menkul Değerler and Tera Portföy Yönetimi.
The regulator also revoked the licenses and authorizations of 24 people.
The SPK granted individuals subject to criminal complaints a 15-day period to benefit from effective remorse provisions.
According to the SPK’s Sept. 28, bulletin, individuals facing criminal complaints have 15 days from the board’s decision to qualify for the provisions. To do so, they must deposit at least 500,000 Turkish Liras ($10,200), or twice the illicit gain generated, into the Ministry of Treasury and Finance’s e-collection account.
Meanwhile, five suspects were arrested on Sept. 29 as part of an ongoing investigation into transactions in Istanbul’s capital markets conducted by the Terrorism Financing and Money Laundering Crimes Investigation Bureau of the Istanbul Chief Public Prosecutor’s Office.
The arrests brought the total number of suspects arrested in the probe to 56.
