(Bloomberg) — Turkey’s banking watchdog filed a criminal complaint against five people, including a former central bank governor, over their comments on the lira.
The complaint targets Durmus Yilmaz, a former chief of the monetary authority, economist Guldem Atabay, opposition lawmaker Burhanettin Bulut and media commentators Emin Capa and Selcuk Gecer, the regulator said on Monday.
The individuals are accused of violating an article of the banking law that protects the reputation of banks.
President Recep Tayyip Erdogan announced extraordinary measures on Dec. 20 to arrest the lira’s losses against the dollar, including a new deposit tool that protects savers against currency depreciation. The lira regained some of its heavy losses after the measures, with a trough-to-peak move of 33%.
Speaking on Halk TV on Dec. 20, Yilmaz, who’s now an opposition lawmaker, said the advance of the Turkish currency that night presented a “buying opportunity.”
Erdogan slammed the former governor for committing the crime of “manipulation in financial markets” and warned that manipulators “will pay the price.” Speaking on Friday, he said “the banking regulator took the necessary steps.”
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Economist Atabay rejected the accusations in comments by phone on Monday.
“I don’t think I’ve crossed any lines,” she said. “I will wage a legal fight and meanwhile will continue to do my job.”
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