Haluk Levent: I Couldn't Manage 4.3 Billion Lira in Donations, I Have a Weakness for the Stock Market
Artist Haluk Levent, detained as part of the Ahbap Association investigation, admitted in his police statement that the association collected 4.3 billion lira in donations in 2023 but failed to manage these funds properly. Levent stated he has a weakness for stock market trading, acknowledging that as he took on more risk, he incurred debt and used the association's checks and promissory notes as collateral for his personal transactions. Describing this as 'irregularity,' he denied any corruption.
According to a MASAK report, the Ahbap Association failed to report aid received from abroad totaling 1.3 million euros and 3 million dollars. The prosecutor's office has requested the arrest of 19 suspects, including Haluk Levent. In his statement, Levent said he does not use a bank account in his own name, and that concert revenues were deposited into Vakıfbank and Halkbank accounts registered under his assistant Yeliz Kaya, which he managed himself.
Levent claimed that the 80 million lira allegedly transferred to his assistant was his own money. He stated he planned to transfer 20 apartments, currently valued at 150 million lira, to the association in return for this amount. He also mentioned being an unofficial partner in Risus Organizasyon Ltd. Şti., but said he earned no income as the company did not turn a profit.
Among other suspects giving statements in the investigation, lawyer Ece Güner claimed she sent 1 million dollars in Turkish lira to various individuals' accounts under the description 'loan' for Levent, and that the money was not repaid. Esin Önder Çağlayan stated she lent Levent a total of 70 million dollars and felt her conscience was exploited. Sevda Kurt also alleged she was defrauded of 90 million lira.
This is not investment advice.
The news headline, which involves a famous figure confessing a personal weakness regarding the stock market, has no direct impact on VAKBN shares. Technical indicators show a slight positive short-term bias, with the RSI at 60 and the MACD crossing above its signal line. However, as the stock trades just above its 20- and 50-day moving averages, a clear direction is difficult to determine. Therefore, given the ineffective news and mixed technical outlook, a neutral expectation has emerged.
The news that Haluk Levent confessed to a weakness in the stock market could damage investor confidence. Although the RSI is in oversold territory at 27, the MACD and signal line are in negative territory, and price action below the SMA20 and SMA50 indicates weakness. In the short term, there is a high risk of continued selling pressure, but the oversold zone could trigger bargain buying. Therefore, while the direction is bearish, the confidence level is moderate.
This news could negatively impact market confidence as a trusted figure has admitted to weaknesses in financial management. Particularly among retail investors, the perception that 'large sums cannot be managed' may reduce risk appetite in the short term. Selling pressure could emerge on Borsa Istanbul, but the impact may be limited as the news is not directly based on macroeconomic data. Overall, a slight deterioration in market sentiment is expected.
