Turkey Freezes Former Minister’s Assets Over $26.5m Fund Trading Allegations

Turkish prosecutors have ordered the freezing of the assets of former family minister Fatma Betul Sayan Kaya and her husband, Ilyas Kaya, amid allegations linked to a major investment-fund crisis. Kaya, a senior figure in President Recep Tayyip Erdogan’s ruling AKP, resigned over the weekend while denying wrongdoing. The controversy followed the collapse of several funds after they failed to meet investor withdrawal demands. Regulators later moved to liquidate seven companies managing 131 funds reportedly worth about $17 billion, affecting more than 455,000 individual investors. Opposition politicians alleged that the couple invested about $1.3 million in April and sold their holdings for roughly $26.5 million in September, suggesting they may have had advance information. Kaya said she stepped down to allow any investigation to proceed independently and impartially.

Use The App To Win ₦1m

Stories are shared by community members. This article does not represent the official view of NaijaWorld — the author is solely responsible for its content.