ISTANBUL, Sept. 25 (Xinhua) -- Turkish authorities have arrested 45 suspects and seized the assets of key figures in an ongoing probe into alleged stock market manipulation, Justice Minister Akin Gurlek announced on Friday.
Gurlek said in a statement that legal action has been taken against 76 suspects in total, with 45 remanded in custody, five released under judicial control, 12 arrest warrants issued, and 14 remaining in police custody.
To prevent the smuggling of illicit gains and protect victims' rights, authorities confiscated the wealth of all fund owners and executive-level suspects, while freezing the assets of their first-degree relatives.
Gurlek noted the investigation is being conducted by the Istanbul Chief Public Prosecutor's Office with coordination from the Financial Crimes Investigation Board and Istanbul Police Department.
The update follows public reassurances from President Recep Tayyip Erdogan on Thursday, who said the issue was isolated to a limited number of funds and posed no risk to the Turkish economy.
He said all responsible parties will be held strictly accountable, with legal and administrative regulations to prevent similar occurrences.
The liquidation of the targeted funds comes as the criminal investigation widens following a sharp sell-off on Borsa Istanbul last week. The benchmark BIST 100 index plunged more than 7.5 percent at one point, sparking concerns over market stability.
According to the country's Capital Markets Board, 455,758 unique investors were registered in the 131 funds involved in the crisis.
