Turkey court jails former minister in funds probe, Anadolu says
Prosecutors say she had undisclosed information and may have profited from share sales that helped trigger a market crisis affecting nearly half a million investors.
- An Istanbul court jailed former minister Fatma Betul Sayan Kaya on Friday as part of an investigation into the country's fund crisis, state-run Anadolu Agency reported.
- In September, a Yeni Party spokesman accused Kaya of profiting 2.17 billion lira from investments, mainly in shipbuilder Ozata Denizcilik shares sold before a major market selloff.
- Kaya faces charges of "violating the law on capital markets" and "membership of an organisation established for the purpose of committing a crime", Anadolu said.
- Her husband, Ilyas Kaya, was released under judicial measures banning travel abroad, while prosecutors investigated Kaya's alleged contacts with former asset manager executive Emre Tezmen.
- Ozata Denizcilik shares traded at around 220 lira in April before surging to 4,980 lira by mid-September, a pattern prosecutors linked to suspected share-price manipulation triggering the liquidity crisis.
133 Articles
133 Articles
In the course of a financial scandal in Turkey, former ACP Vice-Chairman Kaya has been arrested.
Turkey court jails former minister in funds probe
A Turkish court jailed a former minister and senior member of the ruling AK Party early on Friday in an investigation into the country’s fund crisis, state-run Anadolu Agency and other domestic media said. Fatma Betul Sayan Kaya, who quit the party after stepping down in September from her role as deputy chairperson, was accused by an opposition politician of making a large profit on shares just before the crisis triggered a major stock market s…
Turkey ex-minister arrested in fund scandal probe
Fatma Betul Sayan Kaya was remanded in custody by an Istanbul court on charges of "violating the capital markets law" and "membership of an organisation established for the purpose of committing crimes", it said. Kaya served as families minister from 2016 to 2018 and until recently was a deputy chair of President Recep Tayyip Erdogan's ruling AKP. She stepped down from the party role on September 26 after an opposition lawmaker sought clarificat…
Turkey: Ex-minister arrested in a major fund manipulation scandal
Fatma Betul Sayan Kaya, a former deputy chair of President Erdogan's party, was arrested in a major funds scandal. The opposition claims Sayan Kaya and her husband cashed in shares worth millions in the illegal scheme.
Almost ten years ago, Kaya was declared an 'undesirable alien' in the Netherlands and led out of the country by police officers.
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