nuNov 1, 2026, 11:40

Istanbul stock exchange boss arrested in probe into market crisis

The director of the Istanbul stock exchange has been arrested following a prolonged market crisis that wiped out over 100 billion dollars in value. The investigation involves over 110 detained executives and follows a seven-week slide in stock prices that began with the collapse of investment funds.

The general director of the Istanbul stock exchange, identified as Ergun, was arrested on Saturday as part of a wide-ranging investigation into a severe market crisis. This financial turmoil has seen the main Istanbul stock index decline for seven consecutive weeks, marking the longest losing streak in its history. Since early September, the market has plummeted by 25 percent, resulting in the loss of over 100 billion dollars in value and affecting hundreds of thousands of investors following the collapse of several investment funds.

Authorities have aggressively pursued the case, arresting more than 110 executives linked to the situation. The investigation is further complicated by the mysterious death of a trade association chairman, who was found in a vehicle last month with a gunshot wound. Officials have yet to release specific details regarding the circumstances of his passing or the full extent of the systemic failures that triggered this unprecedented market downturn in Turkey.

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Based on reporting by nu. Translated and condensed by LocalHeadlines.

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