Capital Markets Board (CMB) Sentences Tavukçuoğlu to Heavy Penalty

The Capital Markets Board imposed a fine of more than 1 million Turkish Liras on Önder Tavukçuoğlu, the owner of the social media account 'derin hisse' on Twitter, for his transactions in HUBVC shares and his posts on the stock.

The Capital Markets Board (CMB) imposed fines on two individuals and a company, including Önder Tavukçuoğlu, who has been sanctioned many times before. The CMB noted that they fined Tavukçuoğlu this time due to Hub Girişim (#HUBVC) shares. According to the information in the CMB's weekly bulletin, following the investigations carried out regarding the transactions recorded in HUBVC shares between September 06, 2019 and March 31, 2020, Önder Tavukçuoğlu was fined 1 million 175 thousand 29 liras, Ümmühan Korkmaz was fined 442 thousand 476 liras, Şan Tasarım Otomasyon Müh. Mak. İnş. San Tic. Ltd. was imposed an administrative fine of 46 thousand 958 liras. The Board had previously imposed large fines on Önder Tavukçuoğlu due to his posts on his 'Derin hisse' account on Twitter. Many sanctions, including a temporary transaction ban, were imposed on Tavukçuoğlu, against whom a criminal complaint was filed for conducting unauthorized capital market activities. Source: borsagundem