The CMB made a statement saying, “The necessary investigations have been initiated regarding the social media accounts that misled the Stock Exchange investors and caused them to suffer losses through the baseless resignation news about our Minister of Treasury and Finance, Mr. Mehmet Şimşek, on the last trading day of the week.”
In a written statement made by the CMB, it was announced that an investigation has been launched regarding social media accounts that have misled Stock Exchange investors and caused them to suffer losses due to claims that Treasury and Finance Minister Mehmet Şimşek has resigned. The statement said, “Our Board monitors transactions made in the Borsa İstanbul equity market instantly. The control mechanism against market-disrupting actions of real and legal persons is continuously operating. Necessary investigations have been launched regarding social media accounts that have misled Stock Exchange investors and caused them to suffer losses due to unfounded resignation news about Treasury and Finance Minister Mehmet Şimşek on social media channels on the last trading day of the week.”
‘3 TO 5 YEARS PRISON SENTENCE’
It was stated that the posts made were information-based market fraud and that “Article 107 titled ‘Market Fraud’ of the Capital Markets Law No. 6362 regulates the crimes of transaction-based market fraud and information-based market fraud. In accordance with the regulations adopted, it has been ruled that ‘those who make purchases or sales, give orders, cancel orders, change orders or perform account transactions in order to create a false or misleading impression regarding the prices, price changes, supply and demand of capital market instruments’ and ‘those who give false, false or misleading information, start rumors, give news, comment or prepare or disseminate reports or benefit thereby in order to influence the prices, values of capital market instruments or the decisions of investors will be punished with imprisonment from 3 to 5 years and a judicial fine of up to 5 thousand days.” As mentioned above, our Board has decided that; “The necessary legal action/investigations have been immediately initiated against those who made these deliberate and misleading news and those who spread these news, which caused extraordinary price and quantity movements.”
