Former Turkish Minister Arrested in Investment Fund Scandal
Fatma Betul Sayan Kaya is under investigation for alleged market manipulation and insider trading in local funds.
Turkish authorities have detained Fatma Betul Sayan Kaya, a former Minister of Family and former vice-chair of the ruling AKP party. The arrest follows investigations into a scheme involving stock price manipulation within investment funds.
The case includes accusations that the former minister sold shares worth millions of dollars shortly before regulators liquidated the funds. The opposition party claims she secured a profit of 2.17 billion liras after an initial investment of 163 million liras.
The Turkish Ministry of Justice reported that more than 430 people are under investigation for suspected insider trading and manipulation. So far, 112 individuals have been arrested in an operation that is shaking the country's political and financial landscape.
Kaya held high-ranking positions between 2016 and 2018 and resigned from her party post in September. She faces charges related to crimes against the economic order and local capital market regulations while awaiting trial.
The former minister's husband was also questioned and remains under police monitoring. The couple denies any wrongdoing and claims to have transferred part of the earnings to accounts designated by banking authorities.
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