Deputy chair of Turkey's AK Party resigns after trading allegation amid funds crisis
Kaya asked to be relieved of her duties as regulators liquidated 131 funds affecting more than 455,000 investors.
- Former Family and Social Policies Minister Fatma Betül Sayan Kaya resigned from her current role as AK Party Deputy Chair early Sunday to allow an independent investigation into allegations surrounding a public fund controversy.
- The resignation follows opposition allegations from the New Party claiming Kaya and her husband traded tens of millions of liras in shipbuilding shares that recently surged in value during a market liquidity crisis.
- The Capital Markets Board filed criminal complaints and imposed trading bans against 11 individuals linked to market transactions, though neither Kaya nor her husband was explicitly named in the formal regulatory complaints.
- Kaya stated on social media that she asked President Recep Tayyip Erdoğan to relieve her of party duties so the claims could be thoroughly clarified "without leaving any room for doubt".
- The political fallout comes as Turkish prosecutors and financial crimes investigators execute provincial asset freezes and broader probes into $20 billion in liquidated investment funds.
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The Yeni party, which leads the opposition, had accused the former Minister for Social Affairs (2016-2018) of having profited close to 23 million euros with the sale of Özata shares, bought in April for 1.2 million euros.
Breaking news... AKP President Erdoğan has accepted the "request for forgiveness" from AKP member Fatma Betül Sayan Kaya, who submitted her resignation the previous evening. The development was announced by AKP Spokesperson Ömer Çelik.
Deputy chair of Turkey’s AK Party resigns after trading allegation amid funds crisis
ANKARA, Sept 27 (Reuters) - A deputy chair of President Tayyip Erdogan's ruling AK Party stepped down after an opposition politician accused her of making a large profit on shares just before a funds crisis triggered a major selloff on the country's ...
Deputy chair of Turkey's AK Party resigns after trading allegation amid funds crisis
A deputy chair of President Tayyip Erdogan's ruling AK Party stepped down after an opposition politician accused her of making a large profit on shares just before a funds crisis triggered a major selloff on the country's stock market.
Turkey ex-minister resigns as investment fund crisis grows
The late-night post on X came after days of growing speculation about Betul Sayan Kaya's alleged links to the scandal, which erupted earlier this month and triggered concerns about liquidity in parts of the investment-fund sector. Regulators moved in quickly to address the crisis, placing into liquidation seven companies managing 131 investment funds with assets reportedly worth around $17 billion. "I have submitted my request to our party chai…
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