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Turkey's ruling AKP party accepted deputy chair Fatma Betul Sayan Kaya's resignation after she was accused of selling shares worth about $27.5 million shortly before a Sept. 16 stock market crisis. The Istanbul prosecutor's office has launched legal proceedings against 76 people in an investigation focusing on seven investment funds.
Turkey's ruling party accepted the resignation of a deputy chair on Sunday after she was accused of selling shares worth tens of millions of dollars shortly before a stock market crisis.
Fatma Betul Sayan Kaya was deputy chairwoman of President Recep Tayyip Erdogan's Justice and Development Party, or AKP. Turkish stocks plunged Sept. 16 amid suspected share-price manipulation involving several investment funds. Kaya requested to be relieved of her duties on Saturday. AKP spokesman Omer Celik said Erdogan had accepted Kaya's resignation.
AKP Holds Anyone Involved Accountable
Celik said the party holds accountable anyone involved in wrongdoing. He stated that all those who are involved in irregularities, corruption, abuse or anything that causes harm will be held accountable. Zeynel Emre, a spokesperson for the main opposition New Party, claimed that Kaya received some 1.3 billion Turkish lira, or US$27.5 million, when she sold shares shortly before the stock market plunged. Kaya served as Turkey's family and social affairs minister from 2016 to 2018.
Emre said Kaya had bought the shares, most of them in shipbuilding company Ozata Denizcilik, for 63.4 million lira, or $1.3 million, in April. Kaya has not responded directly to the allegations. She said she was stepping down so the claims could be clarified and asked forgiveness from Erdogan, who also chairs the AKP. The Istanbul Chief Public Prosecutor's Office has launched legal proceedings against 76 people as part of an investigation focusing on seven investment funds.
The investigation is examining suspected share-price manipulation that preceded the market decline. The stock market crisis began when Turkish stocks plunged on Sept. 16. Authorities have since moved against multiple individuals and funds. The case has drawn attention because of Kaya's senior role in the ruling party.
Kaya Asked Erdogan For Forgiveness
Kaya's resignation was announced on Saturday, and the party accepted it on Sunday. The allegations center on share sales made shortly before the market fell. Emre's claims about the scale of the sales and the purchase price have not been confirmed by Kaya, who has not directly addressed them. Kaya asked Erdogan for forgiveness in explaining her decision to step down.
She said she wanted the claims to be clarified. Erdogan, who chairs the AKP, accepted her resignation, according to Celik. Celik's statement signaled that the party would not shield anyone involved in wrongdoing. The prosecutor's office continues to investigate the suspected manipulation tied to the seven investment funds and the 76 people facing legal proceedings.
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CP24:This story was compiled and edited by the HeadTopics newsroom and HT AI from the reports above.
Turkey Justice And Development Party Emre Kaya Stock Market Corruption Investigation Turkey AKP Resignation Fatma Betul Sayan Kaya Istanbul Stock Market Crisis Share-Price Manipulation Investigation Ozata Denizcilik Shares
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