Turkey has launched an investigation into a stock manipulation case and arrested a former Wall Street trader.

The Turkish authorities arrested 14 people early Tuesday morning in connection with an investigation into alleged market manipulation that caused three companies' stock prices to hit the limit down. According to reports, those arrested include former Wall Street trader Isik Okte. Prosecutors have charged these suspects with "attempting to whiten illegal profits through market activities," Anadolu Agency reported, with many of them being executives of the listed company Investco Holding. Before the investigation began, regulatory authorities pointed out "artificially raising prices" that could cause losses to retail investors. The prosecution's statement cited reports from the Financial Crimes Investigation Board and the Capital Markets Board as the basis for the investigation. Independent strategist Okte, when taken away by the police, said, "We don't know what's going on; they brought us in." Okte's career began in the 1990s as an analyst at Goldman Sachs, and he often shares his comments on the Turkish market on a YouTube channel, attracting a large following. According to his LinkedIn profile, he has worked at brokerage firms Halk Invest and TEB Investment in Istanbul.