Turkey’s financial market investigation has widened, with prosecutors seeking to freeze the assets of former minister and former AK Party deputy chair Fatma Betül Sayan Kaya and her husband, İlyas Kaya.
The development follows allegations over their trading in shares of shipbuilder Özata Denizcilik shortly before Turkey’s investment fund crisis intensified in September.
Opposition figures have alleged that Kaya invested about 63.4 million lira in the company’s shares and later withdrew roughly 1.34 billion lira, while her husband allegedly invested nearly 100 million lira and received about 826 million lira. The figures and allegations have not been established by a court.
Kaya resigned from her senior AK Party positions on September 26, saying she wanted the allegations to be examined through an independent investigation.
President Recep Tayyip Erdoğan has defended the ruling party as authorities continue to investigate suspected irregularities in Turkey’s investment fund sector.
The wider crisis has affected more than 450,000 investors, with authorities moving to liquidate 131 investment funds amid investigations into suspected market manipulation and other financial irregularities.
The latest asset-freeze request adds another layer to the widening probe, as Turkish authorities examine transactions and financial activity linked to the market turmoil.
