Turkish Stock Market Scandal: Gökhan Gönül and Arif Gafouri Face Legal Action
Turkish authorities have detained 12 individuals, including former footballer Gökhan Gönül and renowned magician Arif Gafouri, amid a widespread security operation related to allegations of stock market manipulation in Istanbul (BİST).
The arrests followed an investigation by the Istanbul prosecutor's office, which uncovered that the suspects engaged in fictitious price movements by speculating on specific stocks, taking advantage of reports from the Capital Markets Authority.
The inquiry found evidence of crimes including "forming a criminal organization" and "market fraud based on insider information."
Following the issuance of detention orders, financial crime units conducted searches in Istanbul, Ankara, Antalya, Samsun, and Maraş, leading to the apprehension of the suspects, including Gökhan Gönül and Arif Gafouri.
The prosecutor's office confirmed that abnormal fluctuations in trading volumes and stock prices resulted in significant losses for small investors, revealing the involvement of 25 individuals in manipulating the stocks of two companies in Istanbul and other regions of Turkey.
Currently, seven suspects are in custody: Onur Y, Mohammed Y, Emre K, Erol D, Osman W, Savaş H, and Sebahattin A, while authorities are searching for the remaining accused.
Previously, the Capital Markets Authority had filed a criminal complaint against 16 individuals, including magician Arif Gafouri, concerning transactions involving the shares of "Europe Yatırım Holding," and had imposed a trading ban on their stocks.
* Who is Gökhan Gönül?
Gökhan Gönül, 40, began his career at the Bursa Yolspor academy, later joining Gençlerbirliği before moving to Fenerbahçe in 2007 for €1.4 million. He played there for nine years, transferred to Beşiktaş in 2016, and joined Rizespor in 2021, retiring at the end of 2023 to become a coach.
* Who is Arif Gafouri?
Arif Gafouri, 36, a Turkish citizen of Iranian descent, gained fame for his magic performances on "Turkey's Got Talent" and won the title of "World's Most Extreme Magician" at the Merlin Awards in 2011. In 2018, he was bitten by a cobra during a performance at a luxury hotel in Antalya.
