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Turkiye Ruling Party Deputy Resigns Amid Share Trading Scandal
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News18•27-09-2026, 20:30
Turkiye Ruling Party Deputy Resigns Amid Share Trading Scandal
- •Fatma Betul Sayan Kaya, deputy chair of Turkiye's ruling Justice and Development Party (AKP), resigned after allegations of selling shares worth millions before a stock market plunge.
- •Turkish stocks plummeted on September 16 due to suspected share-price manipulation involving several investment funds.
- •Opposition spokesperson Zeynel Emre claimed Kaya sold shares for approximately 1.3 billion Turkish lira (USD 27.5 million) shortly before the market crisis, having bought them for 63.4 million lira (USD 1.3 million) in April.
- •Kaya, a former family and social affairs minister, stated she resigned to allow the claims to be clarified and sought forgiveness from President Recep Tayyip Erdogan.
- •The Istanbul Chief Public Prosecutor's Office has initiated legal proceedings against 76 individuals in an investigation focusing on seven investment funds.
Key Questions Answered
Fatma Betul Sayan Kaya resigned after facing allegations that she sold tens of millions of dollars worth of shares shortly before a major stock market crisis.
Opposition spokesperson Zeynel Emre claimed that Kaya bought shares—mostly in shipbuilding company Ozata Denizcilik—for 63.4 million lira in April and sold them for about 1.3 billion lira right before the market plunged.
The Istanbul Chief Public Prosecutor's Office has launched legal proceedings against 76 people as part of an investigation focusing on seven investment funds.
