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Istanbul prosecutors detained five more suspects in an investigation into transactions carried out on capital markets, the Istanbul Chief Public Prosecutor's Office said. The inquiry is being run by the office's Bureau for Investigation of Terrorist Financing and Money Laundering Crimes.

Detention orders have been issued for 31 suspects in total. Twenty-six of those already apprehended remain in police custody, while five others are still being sought, including Nusret Altınbaş, the owner of Altınbaş Holding.

Five suspects taken into custody

In the latest operation, five suspects identified as Ertan Aydın, Seda Tarım Kocabalkan, Abdullah Dal, Hakan Eryılmaz and Fahri Uğur were detained, on top of those already in custody.

Separately, five suspects remain wanted, among them Nusret Altınbaş. Nusret Altınbaş's sibling, İnan Altınbaş, is among those detained, and the assets of all other family members have been frozen.

Prosecution describes scope of the inquiry

The prosecutor's office said the investigation covers share transactions in Işıklar Enerji ve Yapı Holding AŞ (IEYHO), Vişne Madencilik Üretim Sanayi ve Ticaret AŞ (VSNMD), Odine Solutions Teknoloji Ticaret ve Sanayi AŞ (ODINE) and Tera Finansal Yatırımlar Holding AŞ (TRHOL).

The examination was opened on the basis of reports forwarded by the Capital Markets Board (SPK) and written complaints. Allegations concerning the shares of those companies and the SPK reports were evaluated before detention orders were issued for 31 people. The office said the investigation is being conducted carefully under the relevant legislation.

Suspects detained in the operation

The operation was carried out by teams from the Financial Crimes Branch of the Istanbul Police Department. Those detained include Çetin Genç, manager of Pirnus Yapı Gayrimenkul Anonim Şirketi's Fatih branch, and former bureaucrat Eren Yeşilyurt.

Financial sector figures detained include Fadimenur Demir, board member of Alnus Yatırım Menkul Değerler; Hakan Avdan, board member of Atlas Portföy, and Atlas Portföy manager Gülsüm Doğan; other managers Osman Uçar and Canan Özdemir; Metin Kartal Emür, acting chair of Alnus Yatırım; Mustafa Terzi, chair of A1 Capital Portföy Yönetimi Anonim Şirketi; and Atlas Portföy partner Zuhal Topaloğlu.

Also detained were Alnus Yatırım Menkul Değerler chair Seyit Tahir Özek, Atlas Portföy employee Konuralp Özkan, Pardus Portföy Yönetimi Anonim Şirketi managers Rüstem Karakaya and Furkan Açar, Hedef Girişim Sermayesi Yatırım Ortaklığı board members Neda Soydan and Ömer Eryılmaz, its manager Mustafa Zeki Kayahan and employee Anıl Tokat, and Pardus Portföy general manager Mehmet Selim Tunçbilek with board member Ali Cesur and employee Ahmet Haluk Güner.

The list also includes bank portfolio employees Ümit Yılmaz, Yasemin Yılmaz and Burak Poyraz, Altınbaş Holding official İnan Altınbaş and Tera Portföy manager Ayşegül Kaya.

Key takeaways

• Five additional suspects were detained in the Istanbul capital markets fund investigation.
• Detention orders have been issued for 31 people, with 26 apprehended and in police custody.
• The inquiry covers share transactions in IEYHO, VSNMD, ODINE and TRHOL, based on SPK reports and written complaints.
• Nusret Altınbaş, owner of Altınbaş Holding, remains sought, while assets of other family members have been frozen.