Statement on fund investigation from former CMB Chairman Gönül: An increase in shares alone is not considered manipulation

Former Capital Markets Board (CMB) Chairman İbrahim Ömer Gönül, who was among the suspects in the fund investigation, said that the 1000-fold increase in shares cannot be considered manipulation alone. Gönül, who served as the CMB Chairman between 2022 and 2026, stated that the audit and surveillance mechanisms are constantly working and that suspicious transactions must be proven.

Gönül answered the questions after being called to testify as a suspect. According to the news signed by Musa Kesler, Gönül said, "Can a thousand-fold increase in a share escape the attention of the CMB? How could the manipulation of these funds not be noticed?" He answered the question as follows:

Inspections and surveillance are strict. Manipulation or illegal action cannot go unnoticed. Of course, nothing is 100 percent. Moreover, it is necessary to prove it first. If the public favors and piles up on a share, we cannot immediately classify it as 'manipulation'. We need to investigate and prove it. This does not happen overnight, it takes an average of three to four months. The file is created just like that.

'THE SHARES ARE FOLLOWED EVERY DAY'

Gönül also explained how audit and surveillance are carried out at CMB. Stating that the surveillance units working within the institution monitor the movements in the market on a daily basis, Gönül said that suspicious transactions are examined.

Gönül said: