, the country’s anti-money laundering authority, as part of an investigation into alleged market manipulation and the dissemination of misleading information, prosecutors said Wednesday.){kind=link}
Turkey has detained Ramazan Başak, a former deputy chair of Turkey’s Financial Crimes Investigation Board (MASAK), the country’s anti-money laundering authority, as part of an investigation into alleged market manipulation and the dissemination of misleading information, prosecutors said Wednesday.
The investigation is being led by the Bakırköy Chief Public Prosecutor’s Office in İstanbul.
Başak was taken into custody during a gendarmerie operation at his residence and transferred to police for questioning.
Prosecutors accuse him of “publicly spreading misleading information” under the Turkish Penal Code, a charge that has been widely used in recent years in cases involving online content and public statements.
Başak’s detention came shortly after he questioned a recent investigation into the İstanbul Gold Refinery (IAR) in a post on X earlier this week, referring to allegations of fictitious exports and fraud.
İstanbul Altın Rafinerisi (İAR)’ne, hayali ihracat ve devleti dolandırmak gibi çok ciddi iddialarla yapılan operasyon sonrasında, tutuklanan Rafineri sahibi ÖÇ. geçen hafta serbest bırakıldı. Bu operasyondan sonra hep aklıma bir soru geliyor. Şöyle ki;
Kurulan organizasyonla;…— Dr. Ramazan Başak (@ramazanbasak61) April 6, 2026
He cited claims that a scheme involving processed gold exports worth $544 million may have caused a public loss of about $13 million through improper incentives.
The refinery’s owner, Özcan Halaç, was arrested in October 2025 on charges of fictitious exports and defrauding the state. He was released from jail last week, according to Başak’s tweet and Turkish media reports. Halaç and his wife were put under house arrest.
As part of the investigation multiple suspects, including Halaç and his wife, were detained over claims that the scheme caused $13 million in public losses through $544 million in exports.
Başak also raised questions about the origin of the funds involved, suggesting the money may have been illicit and asking why no public explanation had been provided.
The probe also includes allegations of stock market manipulation, according to local media reports. Prosecutors have reportedly separated part of the case file and sought authorization from the Capital Markets Board (SPK) to proceed with a related investigation.
Journalist Ceylan Sever said Başak remains in the custody of the gendarmerie and has not yet been referred to court. She added that a separate file related to alleged violations of capital markets regulations had been prepared and submitted to the SPK for investigation approval.
Başak is expected to be referred to the Bakırköy Courthouse following questioning.