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Deputy chair of Turkey's AK Party resigns after trading allegation amid funds crisis
She stepped down as regulators placed 131 funds into liquidation and investigators examined trading tied to about 455,000 investors, officials said.
- 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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102 Articles
102 Articles
Erdoğan's deputy in the AKP leadership has resigned because of suspicion of insider trading. The Turkish government is acting in panic mode.
·Frankfurt, Germany
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For months, several Turkish listed funds and companies have posted dramatic increases. Their sudden reversal has triggered an investigation into sprawling financial fraud involving relatives of the government's AKP party and highlighting regulatory flaws.
·Paris, France
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But just the vice-chairwoman of Erdogan's party became rich through the whole of Causa.
·Vienna, Austria
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Total News Sources102
Leaning Left10Leaning Right14Center12Last UpdatedBias Distribution39% Right
Bias Distribution
- 39% of the sources lean Right
39% Right
L 28%
C 33%
R 39%
Factuality
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