Turkey Freezes Ex-Minister's Assets as Fund Crisis Grows
Prosecutors said the request is part of an investment fund probe that led to the liquidation of 130 funds and affected about 353,000 investors.
- On Tuesday, The Istanbul Chief Public Prosecutor's Office instructed institutions to freeze all assets belonging to former Social Policies Minister Fatma Betul Sayan Kaya and her husband, Ilyas Kaya, as part of an investment fund investigation.
- The investigation into dubious capital market transactions has resulted in 51 people being remanded in custody, following the liquidation of 130 funds managed by seven portfolio management companies after liquidity problems.
- Opposition politicians allege the couple invested around 2.9 million euros in Ozata Denizcilik, later selling shares for about 39.5 million euros. Media reported Monday the couple transferred this amount to the Treasury and Finance Ministry.
- President Recep Tayyip Erdogan vowed Tuesday to address market wrongdoing, stating the government would not ignore citizen rights violations. Kaya resigned as a deputy chair within the AKP following these allegations.
- Estimates regarding the total value of the affected funds vary, with Reuters reporting around 18.8 billion euros involving 353,000 investors, while CNBC-e estimates about 17.4 billion euros with more than 514,000 investors.
32 Articles
32 Articles
Turkey freezes ex-minister's assets as fund crisis grows
In a brief statement late Tuesday, prosecutors said they had sent "a letter concerning the freezing of all assets" of Fatma Betul Sayan Kaya and her husband Ilyas Kaya to "all the relevant institutions". Turkey has been wrestling with the fallout from an investment fund scandal which erupted earlier this month with the collapse of what officials have described as a "Ponzi-like" scheme. Following days of speculation and allegations by Turkey's …
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tgrthaber.comBreaking news - As part of the fund investigation conducted by the Istanbul Chief Public Prosecutor's Office's Bureau for Investigating Terrorism Financing and Money Laundering Crimes, letters have been sent to relevant institutions requesting the freezing of all assets belonging to İlyas Kaya and his wife, Fatma Betül Sayan Kaya. Istanbul...
As part of the fund investigation, the Istanbul Chief Public Prosecutor's Office requested the freezing of all assets belonging to Fatma Betül Sayan Kaya and her husband, İlyas Kaya.
As part of the fund investigation, a request was made to freeze the assets of former Minister of Family and Social Policies Fatma Betül Sayan Kaya and her husband İlyas Kaya.
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