Fugitive game fraudster Mehmet Aydın en route to Turkey – Interior Ministry
ahvalnews, 03 July 2021
The fugitive founder of Turkish smartphone game that encouraged users to invest money into a ponzi scheme, defrauding users of millions of dollars will arrive in the country on Saturday evening, the Turkish Interior Ministry said.
Mehmet Aydın, who turned himself in to Brazilian police on Thursday, will arrive in Turkey at 10:30 p.m. local time, Deutsche Welle cited ministry spokesman İsmail Çataklı as saying on Saturday. Continue reading “Article: Fugitive game fraudster Mehmet Aydın en route to Turkey – Interior Ministry”
The Fall Of Turkey, The Rise Of Bitcoin
TYLER DURDEN, 26 April 2021
It never ceases to amaze me how tone deaf those with power are.
Turkish President Recep Tayyip Erdogan is in serious trouble for the first time in his political career. He’s a man staring at a massive electoral problem coming this fall.
Erdogan is currently presiding over an economy in complete freefall. With recent reports of food riots over government handouts of potatoes and onions the news only seems to be getting worse there on the eve of national elections. Continue reading “Article: The Fall Of Turkey, The Rise Of Bitcoin”
Turkey blocks accounts of Vebitcoin exchange platform, launches probe
Ece Toksabay, 2 April 2021
Turkish authorities blocked all onshore bank accounts of cryptocurrency exchange platform Vebitcoin in the country, and launched an investigation into the platform, the state-run Anadolu news agency said late on Friday.
The action came after Vebitcoin announced that it stopped all of its activities citing financial strains. It became the second Turkish platform in a week to face troubles, after authorities detained dozens of people with suspected ties to Thodex platform.
Vebitcoin, a digital asset trading platform based in Turkey, announced on Friday that it had stopped all activities “in order to fulfill all regulations and claims”. Continue reading “Article: Turkey blocks accounts of Vebitcoin exchange platform, launches probe”
Man Group Dials Up Short Bets as Turkey Stirs Fragile Five Fears
Ben Bartenstein, 03 April 2021
The market meltdown following Turkey’s central-bank shakeup is reviving a longtime debate among the world’s largest money managers and Ivy League economists over the vulnerability of developing nations.
Doomsayers including Man Group Plc, the world’s biggest publicly listed hedge-fund firm, and the Institute of International Finance’s chief economist Robin Brooks warn that the turmoil battering Turkish securities could ripple across emerging markets in a repeat of the 2013 taper tantrum. Yet that gloomy scenario isn’t the dominant narrative in the hallways of Pacific Investment Management Co., BlackRock Inc. and Ashmore Group Plc, which have some of the largest exposures to the nations that might be next in the crosshairs. Continue reading “Article: Man Group Dials Up Short Bets as Turkey Stirs Fragile Five Fears”
Turkey fines firms over short selling irregularities
Reuters, 01 April 2021
Turkey fined 10 securities firms for up to 7.8 million lira ($1 million) in relation to irregularities in short-selling transactions, the country’s Capital Markets Board said in its weekly bulletin on Thursday.
Fines of various amounts were imposed on firms including Merrill Lynch International, JP Morgan Securities, Goldman Sachs International, Credit Suisse Securities Europe and Barclays Capital Securities, the statement said.
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