Retired footballer one of 12 individuals arrested in investigation of market manipulation

Former footballer Gökhan Gönül and eleven others have been taken into custody in an extensive investigation focusing on alleged market manipulation on Borsa Istanbul (BIST). The probe, directed by the Istanbul Chief Public Prosecutor’s Office, revealed indications of fabricated price shifts and speculative trading in specific stocks, notably European Investment Holding A.Ş. The suspects are accused of orchestrating an organization to carry out illegal activities and engaging in insider-based market deception.

Police units conducted synchronized raids in Istanbul, Ankara, Antalya, Samsun, and Kahramanmaraş, resulting in multiple arrests. Gönül, aged 40, a former player for prominent Turkish clubs like Fenerbahçe and Beşiktaş, retired from professional football in 2023 to pursue coaching opportunities.

Investigative efforts are ongoing against an additional six individuals, with searches and asset confiscations still underway. The legal authorities continue to push forward with their operations to uncover more evidence and bring transparency to this alleged market manipulation scheme.