World Bulletin / News Desk
Two separate investigations have been launched against Galatasaray Chairman Ünal Aysal and several club managers over complaints filed by 13 individuals accusing them of bringing down the value of Galatasaray's shares, traded on the İstanbul Stock Exchange (İMKB), through “aggravated fraud” and “manipulation.”
Aysal is accused of bringing about a fall in the share price of the football club by making controversial statements. At the team's general congress on July 9, 2011, Aysal said: “We never recommend the sale of shares. We have plans in place for repurchase agreements.” However, 800,000 shares were later sold by Aysal's administration.
Galatasaray, which was labeled the “dream team” of the Turkish football league at the beginning of the football season this year after the transfer to the team of several successful players, faces difficult days now not only because of the successive defeats it has suffered over the past few weeks but also due to financial difficulties and problems in the club's administration.
Thirteen investors have filed criminal complaints against Aysal and several Galatasaray club administrators with the İstanbul Chief Prosecutor's Office.
The prosecutor's office has commissioned two prosecutors to separately investigate charges of “aggravated fraud” and “manipulation.”
One of the complaints filed is that of lawyer Nejlan Yıldız, according to the investigation file of public prosecutor Mesut Erdinç Bayhan. Yıldız said the value of the Galatasaray shares she owned fell sharply due to contradictory statements Aysal made about the shares. She said her shares in Galatasaray, each of which was valued at TL 430 when she bought them, fell to TL 180 due to Aysal's statements.
Yıldız said investors like her have sustained significant financial loss due to Aysal's actions.
Officers among eight detained in Ankara in investigation into 'parallel state', source says
Tomas Bocek says fact-finding mission will look for ways to help refugees in Turkey
Akar says army to continue anti-terror fight in Turkey until safety ensured for all
Greek food was influenced by Izmir, Istanbul and other areas, making it into an Ottoman-Balkan mixture, says famed Greek chef
Turkish dailies Tuesday cover return of civilians to their homes in SE district where curfew has been partially lifted
German parliament will vote on Thursday a resolution that aims to recognize 1915 events as 'genocide'
Breaking precedent, Turkey’s newly-appointed FM pays first official visit to war-battered Libya
MHP vice chairman says central executive board will not attend dissidents' congress
Fresh off winning its vote of confidence, govt spokesman stresses economic growth and ending terrorism, among other goals
Concerned about French security forces' harsh intervention, Turkey calls on officials to avoid using disproportionate force
Elimination of wage differential, glass-ceiling obstacles are requirement for equity, Emine Erdogan says
Mass celebration on anniversary of Ottoman conquest of Istanbul dominates headlines of Turkish dailies Monday
Six people have also been injured in separate Diyarbakir province bomb attack
Turkish general staff reports cross-border artillery, air strikes on ISIL, PKK
Ankara's proposal has one condition, however, which is not to include the PYD and YPG terrorist groups